Chennai: The petrol and diesel prices in southern cities of Chennai, Bengaluru and Hyderabad have remained unchanged on Sunday.
In Chennai, Petrol price remained constant for the sixth consecutive day and it remained at Rs 99.20 per litre. In Hyderabad and Bengaluru, it stood the same as yesterday at Rs 105.54 per litre and 104.98 per litre respectively. The fuel prices of the country have been volatile for quite some time now.
Similarly, the diesel price remained the same as yesterday in Chennai at Rs 93.52 per litre, in Bengaluru at Rs 94.34 per litre and in Hyderabad at Rs 96.99 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.