Chennai: The petrol prices in southern cities of Chennai, Bengaluru and Hyderabad have remained unchanged while the diesel price in all the three cities have seen a slight dip.
In Chennai, Petrol price remained constant for the eight consecutive days and it remained at Rs 99.47 per litre, in Hyderabad, it stood at Rs 105.83 per litre and in Bengaluru, it stood at 105.25 per litre. The fuel prices in the country have been volatile for quite some time now.
In Chennai, diesel price has come down by Rs 0.18 to Rs 93.84 per litre, in Bengaluru, the price has come down by Rs 0.21 to Rs 94.65 and in Hyderabad, the price has come down by Rs 0.20 to Rs 97.33 per litre.
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Based on the crude oil prices in the international market, the Government of India permits the oil companies to fix petrol and diesel prices. Accordingly, it changes on a daily basis which is called Dynamic Fuel Price.
Ahead of the Tamil Nadu elections, CM MK Stalin promised during the campaign that petrol and diesel prices would be reduced once the DMK wins the elections and forms a government in Tamil Nadu. Fulfilling the promise, Tamil Nadu Finance Minister PTR Palanivel Thiagarajan on August 13 announced that tax levied on petrol will be reduced by Rs 3 and it came into effect from the next day.
Following the constant price rise of petrol and diesel in the Southern states, demands from several quarters raised to control its price.