New Prices for Gas and Diesel Announced: Find Out What They’ll Cost in Your City on January 18
Current Prices for Gas and Diesel January 18, 2024: Regardless of volatility or stability, the price of gasoline and diesel is disclosed every day at six in the morning. Oil marketing corporations (OMCs) set pricing based on global crude oil prices and foreign currency rates, which drives this practice.
Delhi Fuel & Diesel Cost
In Delhi, a litre of petrol costs Rs 96.72, while a litre of diesel costs Rs 89.62 as of January 18.
Mumbai Fuel & Diesel Cost
On January 18, the retail price of gasoline in Mumbai remained over Rs 100, at Rs 106.31 a litre, while the price of diesel was Rs 94.27 per litre.
Verify the cost of gasoline and fuel in each city on January 18;
PETROL PRICE CITY (RS/LITRE) PRICE OF DIESEL (RS/LITRE)
Chennai 94.24-102.63
Bengaluru 106.03- 92.76
Noida 89.82- 96.65
Lucknow 89.66- 96.47
Bengaluru 87.89- 101.94
Hyderabad 97.82-109.66
Jaipur 108.48- 93.72
Trivandrum 98.24- 109.42
Bhubaneswar 103.18- 94.75
The pricing of gasoline and diesel in India is determined by a number of variables, including municipal taxes, value-added tax (VAT), and freight costs. 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 not altered.
Every day at six in the morning, OMCs adjust gasoline retail prices based on the global price of crude oil. The government regulates gasoline prices via price ceilings, base pricing, and excise taxes.
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 US dollar to Indian rupee exchange rate: Since the majority of India’s crude oil is imported, this exchange rate also has an impact on the cost of gasoline and diesel.
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 may be costly, and the price of refining can vary based on a number of variables, including the kind of crude oil utilized and the refinery’s efficiency.
The demand for gasoline and diesel: The demand for these fuels has the potential to impact pricing. Prices may rise if there is a greater demand for certain fuels.
