Every day at six in the morning, the prices of gasoline and diesel are disclosed, no matter whether they have increased or decreased. This is so because the foreign currency rates and global crude oil prices are the basis for the oil marketing companies’ (OMCs) pricing updates.
Delhi Petrol & Diesel Price
In Delhi, a liter of gasoline costs Rs 96.72, while a litre of diesel costs Rs 89.62 as on November 25.
Mumbai Petrol & Diesel Price
On November 25, the price of gasoline in Mumbai remained over the Rs 100 level, at Rs 106.31 a litre, while the price of diesel was Rs 94.27 per litre.
Check city-wise petrol and diesel prices on November 25;
|PETROL PRICE (RS/LITRE)
|DIESEL PRICE (RS/LITRE)
Value-added tax (VAT), municipal taxes, and freight costs are some of the elements that determine the price of gasoline and fuel in India. As a result, rates vary from one state to the next.
Since the federal government and some states reduced gasoline taxes in May 2022, the fuel prices have remained the same.
Every day at 6 am, OMCs adjust the retail price of gasoline in line with the global price of crude oil. The government regulates gasoline prices via base pricing, price ceilings, and excise tax.
Factors Influencing India’s Gas and Diesel Prices
Price of crude oil: Since crude oil is the primary raw material needed to make gasoline and diesel, the price of crude oil directly affects the total cost of these fuels.
The price of gasoline and diesel is influenced by the exchange rate between the Indian rupee and the US dollar since the majority of India’s crude oil is imported.
Tax: There are many levies on gasoline and diesel levied by the federal and state governments. The ultimate cost of gasoline and diesel may be significantly impacted by these taxes, which might differ from state to state.
The price at which gasoline and diesel are ultimately produced is also influenced by the cost of refining crude oil. Refinement is a costly procedure whose price is contingent on many elements, including the kind of crude oil used and the refinery’s efficiency.
The demand for gasoline and diesel: The pricing of these fuels may also be impacted by this demand. Prices may rise if there is a greater demand for certain fuels.