Image Source : FILE Check the petrol and diesel rates in your city on September 3.
Petrol-Diesel prices: Oil marketing companies (OMCs) announce the price of petrol and diesel every day at 6 am, maintaining consistency despite the inherent volatility of these commodities. The OMCs adjust the prices in accordance with global crude oil market trends and fluctuations in foreign exchange rates, ensuring that consumers are kept up-to-date with the latest fuel costs. This practice aims to provide transparency and reflect the real-time changes in the international oil market. The transparency and punctuality of this routine serve as a testament to the intricacies of the fuel market, where even the slightest ripple in global economic indicators can cast its influence on the pocketbooks of consumers.
The daily adjustment of fuel prices is closely tied to international market trends and foreign exchange rates, unfolding each morning as OMCs respond to global crude price fluctuations. Companies like Indian Oil, Bharat Petroleum, and Hindustan Petroleum reassess and set the prices for petrol and diesel every day at 6 am.
Check petrol and diesel prices today in different cities
CITY
PETROL PRICE (RS/LITRE)
DIESEL PRICE (RS/LITRE)
Delhi
94.72
87.62
Noida
94.66
87.76
Mumbai
103.44
89.97
Kolkata
103.94
90.76
Chennai
100.85
92.44
Lucknow
94.65
87.76
Bengaluru
102.86
88.94
Jaipur
104.88
90.36
Bhubaneswar
101.06
92.911
Trivandrum
107.62
96.43
Hyderabad
107.41
95.65
Factors affecting petrol and diesel prices in India
Crude oil stands as the fundamental building block for the production of petrol and diesel, and consequently, its market price serves as a direct determinant of the final cost of these fuels. Given India’s substantial reliance on importing crude oil, the exchange rate between the Indian rupee and the US dollar plays a pivotal role in shaping the nation’s petrol and diesel prices.
The intricate web of taxes imposed by both central and state governments on petrol and diesel adds an additional layer of complexity. Varying across states, these taxes wield significant influence over the ultimate retail prices of petrol and diesel, accentuating the multifaceted factors contributing to the cost dynamics of these essential fuels.
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