As of today, November 18, 2024, oil marketing companies (OMCs) have updated the prices for petrol and diesel, a regular practice carried out daily at 6 a.m. The fluctuations in fuel prices are directly tied to global crude oil rates and the movement of foreign exchange rates, with the OMCs adjusting prices to ensure that consumers are consistently informed about the current costs.
City-Wise Petrol and Diesel Prices
Here are the petrol and diesel prices in major Indian cities for today:
Delhi: Petrol – ₹94.72, Diesel – ₹87.62
Mumbai: Petrol – ₹103.44, Diesel – ₹89.97
Chennai: Petrol – ₹100.85, Diesel – ₹92.44
Kolkata: Petrol – ₹103.94, Diesel – ₹90.76
Noida: Petrol – ₹94.66, Diesel – ₹87.76
Lucknow: Petrol – ₹94.65, Diesel – ₹87.76
Bengaluru: Petrol – ₹102.86, Diesel – ₹88.94
Hyderabad: Petrol – ₹107.41, Diesel – ₹95.65
Jaipur: Petrol – ₹104.88, Diesel – ₹90.36
Trivandrum: Petrol – ₹107.62, Diesel – ₹96.43
Bhubaneswar: Petrol – ₹101.06, Diesel – ₹92.91
Key Factors Impacting Fuel Prices in India
Several factors influence the pricing of petrol and diesel in India, including:
Crude Oil Prices: The cost of crude oil, being the main raw material for fuel production, has the most significant impact on the prices of petrol and diesel.
Currency Exchange Rates: India imports a substantial portion of its crude oil, meaning fluctuations in the exchange rate between the Indian Rupee and the US Dollar also affect fuel prices.
Government Taxes: Both central and state governments levy various taxes on petrol and diesel. These taxes can vary significantly from state to state, influencing the final retail price of fuels.
Refining Costs: The expenses associated with refining crude oil into usable petrol and diesel also affect fuel prices. These costs can fluctuate depending on the type of crude oil used and the efficiency of the refining process.
Fuel Demand: Changes in the demand for petrol and diesel, whether seasonal or driven by economic factors, can lead to price adjustments. Increased demand typically leads to higher fuel prices.
As global crude oil prices continue to fluctuate, consumers in India remain subject to these dynamic influences, with daily updates ensuring they stay informed on the latest fuel rates.
Related topic:
Unleaded Vs Diesel Fuel: What Is The Difference?
