The Karnataka government, over the weekend, announced an increase in diesel and petrol prices, effective immediately from June 15, 2024.

The Karnataka government has increased Value Added Tax (VAT) on petrol to 29.84% and on diesel to 18.44%. With this, the sales tax for petrol increased from 25.92% to 29.84% and for diesel, it has been hiked from 14.34% to 18.44%. This has led to petrol price now costing Rs 102.86 per litre in Bengaluru and diesel price at Rs 88.94 a litre, as on June 17, 2024.

Check petrol and diesel price Let us now take a look at the petrol price and diesel price in other cities in India.

Petrol price in other cities in India The petrol price in Karnataka are still lower than neighbouring Andhra Pradesh and Maharashtra.

Here are the petrol and diesel prices of major cities in India, as on June 17, 2024.

Latest petrol and diesel price City Diesel price Petrol price Delhi 89.62/L 96.72/L Kolkata 92.76/L 106.03/L Chennai 94.24/L 102.63/L Mumbai 97.28/L 111.35/L Hyderabad 95.65/L Rs 107.41/L Trivandrum 96.43/L 107.56/L Bangalore 88.94/L 102.86/L Chandigarh 82.40/L 94.24/L Jaipur 90.36/L 104.88/L Agartala 86.50/L 97.47/L Panjim 87.77/L 95.21/L Bhopal 91.84/L Rs 106.47/L Source: Indian Oil Corporation; petrol and diesel price as on June 17, 2024.

How petrol price is set in India In India, petrol prices are updated every day. Every day at 6:00 a.m., prices are updated.

This ensures that fuel consumers and dealers are informed of even a minute-by-minute change in worldwide oil prices.

Fuel costs include dealer fee, value added tax (VAT), and excise charge.

States have different VAT rates.

Excise duty, dealer fee and VAT are added, almost doubling the retail selling price of petrol.

Fuel prices are influenced by a number of things.

The rupee to US dollar exchange rate, crude oil prices, worldwide cues, gasoline demand, and so forth are some examples of these.

Prices for crude oil in India rise in tandem with increases in global prices.