Oil marketing companies (OMCs) in India update fuel prices daily, reflecting the previous day’s trading activity in oil markets. These revised prices come into effect around 6 AM each morning, ensuring that consumers are informed about the latest fuel costs.
Despite the inherent volatility of commodities such as crude oil, OMCs adjust fuel prices in response to global oil price fluctuations and foreign exchange rates. As of today, the current petrol and diesel prices in major Indian cities are as follows:
Delhi: Petrol is priced at ₹94.72 per liter, and diesel at ₹87.62 per liter.
Mumbai: Petrol costs ₹103.44 per liter, while diesel is ₹89.97 per liter.
Chennai: The price of petrol is ₹100.85 per liter, and diesel is ₹92.44 per liter.
Kolkata: Petrol is available for ₹103.94 per liter, with diesel at ₹90.76 per liter.
Noida: Petrol is priced at ₹94.66 per liter, and diesel at ₹87.76 per liter.
Lucknow: Petrol costs ₹94.65 per liter, while diesel is ₹87.76 per liter.
Bengaluru: The price for petrol is ₹102.86 per liter, and diesel at ₹88.94 per liter.
Hyderabad: Petrol is priced at ₹107.41 per liter, with diesel at ₹95.65 per liter.
Jaipur: Petrol costs ₹104.88 per liter, while diesel is priced at ₹90.36 per liter.
Factors Influencing Petrol and Diesel Prices
Several factors contribute to the fluctuations in petrol and diesel prices:
Refining Costs: The process of converting crude oil into petrol and diesel involves significant expenses that can vary based on the type of crude oil and the efficiency of the refining process.
Demand: An increase in demand for petrol and diesel often results in higher prices.
Crude Oil Prices: As the primary raw material, the price of crude oil directly influences the cost of petrol and diesel.
Exchange Rate: India, being a major importer of crude oil, is affected by fluctuations in the exchange rate between the Indian rupee and the US dollar, which impacts fuel prices.
Taxes: Both central and state governments impose taxes on petrol and diesel. These taxes vary across states, affecting the final retail price for consumers.
The daily updates on fuel prices provide essential information for consumers navigating the costs associated with petrol and diesel in India.
Related topic:
Crude Oil Prices Settle Around $72.15, Eyeing Further Gains
