File photo. Photograph:( Reuters )
Oil prices vary from city to city and among states owing to the local tax structure
The central government's move of revising petrol and diesel prices has pronounced woes for people living in the National Capital Region as the petrol price in Delhi has hit a four-year high.
Petrol in the national capital now costs Rs 73.73 a litre, the highest since September 14, 2014, when rates had hit Rs 76.06. Diesel price at Rs 64.58 is the highest ever, with the previous high of Rs 64.22 registered on February 7, 2018.
The move came in a bid to reduce excise duty on petrol an diesel with an aim to mitigate the impact of rising international oil rates.
According to reports, Indians pay the highest retail prices of petrol and diesel among South Asian nations.
Ahead, we take a quick look at the revised oil prices for the day in some of the chief Indian cities.
|City||Petrol in Rs||Diesel in Rs|
It must be noted that oil prices vary from city to city and among states owing to the local tax structure. Prices may differ slightly from one oil selling company to another.
State-owned oil companies -- Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- in June last year, dumped the 15-year old practice of revising rates on the 1st and 16th of every month.
Daily price revision system was adopted to facilitate an instant reflection of changes in cost. Since then, prices are revised every day based on the international crude oil rates and currency conversion against US dollars.
Oil prices in a particular Indian city are also influenced by the local transportation cost, middleman commission, among other factors.