Petrol and Diesel prices today, 23rd April, 2024

23 Apr 2024 , 10:19 AM

Take a look at today’s Petrol and Diesel prices in major cities:

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	94.90	87.76
Kolkata	103.94	90.76
Lucknow	94.64	87.75
Mumbai	104.21	92.15
New Delhi	94.72	87.62

Oil marketing companies (OMCs) in India unveil petrol and diesel prices daily at 6 am. Managed by OMCs, these prices adapt to global crude oil prices and currency exchange rates, ensuring consumers stay informed about daily fuel cost variations.

Petrol and diesel pricing in India is shaped by multiple factors including freight charges, value-added tax (VAT), and local taxes, leading to varying rates across states.

 

Key factors influencing petrol and diesel prices include:

• Crude oil price: As the primary raw material, fluctuations in crude oil costs directly impact fuel prices.
• Exchange rate (INR to USD): India’s reliance on crude oil imports makes it sensitive to currency exchange rate shifts.
• Taxation: Central and state governments impose taxes, varying by region, significantly impacting fuel pricing.
• Refining expenses: Costs associated with refining crude oil contribute to retail prices, influenced by factors like crude oil quality and refinery efficiency.
• Demand: Market demand for petrol and diesel follows supply and demand principles, influencing pricing dynamics.

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