As of October 28, 2024, Oil Marketing Companies (OMCs) have announced updated petrol and diesel prices in major Indian cities, reflecting a stable pricing strategy despite fluctuations in the global oil market. The new prices are adjusted daily at 6 am, aligning with changes in crude oil prices and foreign exchange rates to keep consumers informed of real-time fuel costs.
The revised fuel rates are as follows:
Delhi: Petrol – Rs 94.72/litre, Diesel – Rs 87.62/litre
Mumbai: Petrol – Rs 103.44/litre, Diesel – Rs 89.97/litre
Bengaluru: Petrol – Rs 102.86/litre, Diesel – Rs 88.94/litre
Chennai: Petrol – Rs 100.85/litre, Diesel – Rs 92.44/litre
Kolkata: Petrol – Rs 103.94/litre, Diesel – Rs 90.76/litre
Hyderabad: Petrol – Rs 107.41/litre, Diesel – Rs 95.65/litre
Gurugram: Petrol – Rs 95.11/litre, Diesel – Rs 87.97/litre
Noida: Petrol – Rs 94.81/litre, Diesel – Rs 87.93/litre
Crude oil prices are a significant factor in determining fuel costs, given that petrol and diesel are derived from crude oil. As one of the world’s largest importers of crude, India’s fuel prices are closely linked to the exchange rate between the Indian rupee and the US dollar.
Moreover, the final price of fuel is heavily influenced by taxes levied by both the central and state governments, which can vary significantly across different states.
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