Petrol, diesel prices on July 1: Check latest rates in your city
In Delhi, petrol and diesel prices stood at ₹96.72 and ₹89.62 per litre, respectively.
Petrol and diesel rates remained stagnant on Saturday. Fuel prices have stayed stable over the past year since the last rate revision in May 2022.
Different states implement different rates as per the local taxes, value-added tax (VAT) and freight charges, etc.
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After the 6 am price notification issued by oil marketing companies daily, petrol and diesel costs remained largely the same as Friday in cities like New Delhi, Kolkata, Mumbai, and Chennai as per Goodreturns.
Fuel prices are regulated by the central government through factors like excise duty, base prices, and cap prices. Centre collects excise duty, while VAT (Value Added Tax) is collected by individual states. As each state has its own VAT rates, fuel prices may vary accordingly.