Petrol, diesel prices stay unchanged on Diwali
As per the country's pricing mechanism, under the daily dynamic pricing regime, domestic fuel prices depend on international fuel prices on a 15-day average, besides the value of the rupee.
Prices vary from region to region due to local taxes as the product is excluded from the GST regime. Delhi has the lowest tax rate among the four metros.
In tandem with petrol, the cost of diesel remained unchanged on Wednesday across the four metros.
The price of diesel in Mumbai was at Rs 76.57 per litre.
Fuel prices have been reducing on the back of multiple factors such as lower international crude oil cost and a recovery in the rupee against the US dollar.
Last month, the Centre announced a cut in excise duty by Rs 1.50 a litre.
Additionally, the state-owned oil marketing companies had been mandated to reduce the prices of petrol and diesel by Re 1 a litre.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)