Oil marketing companies (OMCs) reveal petrol and diesel prices daily at 6 am, regardless of fluctuations. The pricing is managed by OMCs, aligning with changes in global crude oil prices and foreign exchange rates. This mechanism ensures that consumers are informed about daily variations in fuel expenses.
In India, petrol and diesel pricing is influenced by factors such as freight charges, value-added tax (VAT), and local taxes. These influences lead to varying fuel rates across different states in the country.
Check out the price of Petrol and Diesel in your city today.
| City | Petrol Rate(Rs/Litre) | Diesel rate (Rs/Litre) |
|---|---|---|
| Bangalore | 99.84 | 85.93 |
| Chandigarh | 94.24 | 82.40 |
| Chennai | 100.75 | 92.34 |
| Gurugram | 94.91 | 87.77 |
| Calcutta | 103.94 | 90.76 |
| Lucknow | 94.64 | 87.75 |
| Mumbai | 104.21 | 92.15 |
| New Delhi | 94.72 | 87.62 |
Crude oil price: The cost of crude oil, the primary raw material for petrol and diesel production, plays a pivotal role in determining the final prices of these fuels in India.
Exchange rate (INR to USD): India, being a significant crude oil importer, is susceptible to changes in the exchange rate between the Indian rupee and the US dollar. Fluctuations in this exchange rate directly impact petrol and diesel prices.
Taxation: Both central and state governments levy various taxes on petrol and diesel. These taxes can vary across different states, contributing significantly to the overall pricing of petrol and diesel in the country.
Refining expenses: The costs associated with refining crude oil into petrol and diesel influence the final retail prices. Factors such as the type of crude oil used and the efficiency of the refinery contribute to the variability in refining expenses.
Demand for petrol and diesel: Market demand for these fuels also contributes to pricing dynamics. Increased demand tends to exert upward pressure on prices, reflecting the principles of supply and demand in the energy market.
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