Petrol and Diesel Price In India on June 1: The petrol and diesel prices remain unchanged for the tenth day running on Wednesday. Finance Minister Nirmala Sitharaman had announced a cut in excise duty on petrol and diesel earlier in May by 8 and 6 rupees per litre, respectively.
Public sector Odisha Mining Corporation or OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel price daily in line. Changes in petrol and diesel prices are implemented with effect from 6 A.M every day.
Retail petrol and diesel prices differ from state to state based on local taxes like VAT or freight charges. After the central government decided to cut excise duty, several states slashed VAT on petrol and diesel. The price of petrol and diesel in major cities as of June 1 are mentioned below.
Fuel Price in India on June 1
Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre
Noida: Petrol price: Rs 96.79 per litre, Diesel: Rs 89.96 per litre
Gurugram: Petrol price: Rs 97.18 per litre, Diesel: Rs 90.05 per litre
Mumbai: Petrol price: Rs 111.35 per litre, Diesel price: Rs 97.28 per litre
Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre
Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre
Bengaluru: Petrol price: Rs 101.94 per litre, Diesel: Rs 87.89 per litre
Lucknow: Petrol price: Rs 96.57 per litre, Diesel: Rs 89.76 per litre
Chandigarh: Petrol price: Rs 96.20 per litre, Diesel: Rs 84.26 per litre
Crude oil price
The reason behind being fuel prices kept unchanged is the increasing price of crude oil. Brent crude futures were up 78 cents or 0.7% to trade near $116.38 a barrel, while U.S West Texas Intermediate (WTI) crude futures traded at $117.31, gaining cents.