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Check out today’s Petrol and Diesel prices in your city on April 16

16 Apr 2024 , 09:58 AM

Every day at 6 am, oil marketing companies (OMCs) in India disclose the prices of petrol and diesel, irrespective of any fluctuations. This pricing strategy is overseen by the OMCs, and it adjusts according to changes in global crude oil prices and foreign exchange rates. By following this mechanism, consumers are kept informed about the daily fluctuations in fuel expenses.

Several factors influence the pricing of petrol and diesel in India, including freight charges, value-added tax (VAT), and local taxes. These factors contribute to the variation in fuel rates observed 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 94.94 87.80
Calcutta 103.94 90.76
Lucknow 94.65 87.76
Mumbai 104.21 92.15
New Delhi 94.72 87.62

Crude oil price: The price of crude oil, which serves as the primary raw material for producing petrol and diesel, is a crucial factor in determining their final prices in India.

Exchange rate (INR to USD): India's status as a significant crude oil importer exposes it to fluctuations in the exchange rate between the Indian rupee and the US dollar. Changes in this exchange rate directly impact the prices of petrol and diesel.

Taxation: Both the central and state governments impose various taxes on petrol and diesel. These taxes can differ across states, contributing significantly to the overall pricing of these fuels in the country.

Refining expenses: The expenses involved in refining crude oil into petrol and diesel also influence their final retail prices. Factors such as the type of crude oil utilized and the efficiency of the refining process contribute to the variability in refining expenses.

Demand for petrol and diesel: Market demand for these fuels plays a role in pricing dynamics. Higher demand typically leads to upward pressure on prices, reflecting the principles of supply and demand in the energy market.

For feedback and suggestions, write to us at editorial@iifl.com

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