Petrol, Diesel Prices May Soon Fall In Maharashtra, Says Minister

Residents of Maharashtra may soon witness a decline in the prices of petrol and diesel, according to Minister of Petroleum & Natural Gas HS Puri. The minister made the comment on the back of Maharashtra Chief Minister Eknath Shinde's plan to slash fuel prices in the state.

According to a report featured in The Hindu Business Line, "Not to make a political point, but I guess petrol prices will come down in Maharashtra now," Puri told reporters here.
Currently, petrol is selling at Rs 111.35 per litre in Mumbai while diesel is sold at Rs 97.28 per litre. It is worth noting that prices of fuel are highest in Mumbai. The prices of fuel differ from state to state due to implementation of local taxes such as VAT and freight charges.

Earlier, Eknath Shinde had revealed plans that fuel prices will be brought down in Maharashtra. He shared on Twitter in Marathi, "A decision to reduce VAT on fuel will be taken soon to provide relief to the people."

It is worth noting that public sector oil marketing companies that may include Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of fuel everyday keeping in line with benchmark global prices and foreign exchange rates. If any changes in the prices of petrol and diesel occur, it is implemented at 6 AM everyday.