New Prices for Gas and Diesel Announced: See Rates in Your City on May 13
Current Prices for Gas and Diesel May 13, 2024: Every morning at six a.m., oil marketing corporations (OMCs) adjust the pricing of gasoline and diesel. You are kept informed about daily differences in gasoline costs via these modifications, which take into account shifts in foreign currency rates and worldwide crude oil prices. Value-added tax (VAT), municipal taxes, and freight costs are some of the factors that affect the price of gasoline and diesel in India, causing variations in prices across states.
Current Indian Price of Petrol and Diesel (See the rate list per city below.)
Mumbai Fuel & Diesel Cost
As of May 13, the cost of gasoline in Mumbai remained over Rs 100 per litre, at Rs 104.21, while the cost of diesel was Rs 92.15 per liter.
Delhi Diesel Cost Right Now
Diesel is now priced at Rs 87.62 a liter as of May 13.
Today’s Gas Prices in Delhi
In Delhi, a liter of fuel costs Rs 94.72 as of May 13.
Verify the cost of gasoline and diesel in each city on May 13:
| CITY | PETROL PRICE (RS/LITRE) | DIESEL PRICE (RS/LITRE) |
| Chennai | 100.75 | 92.34 |
| Kolkata | 103.94 | 90.76 |
| Noida | 94.83 | 87.96 |
| Lucknow | 94.65 | 87.76 |
| Bengaluru | 99.84 | 85.93 |
| Hyderabad | 107.41 | 95.65 |
| Jaipur | 104.88 | 90.36 |
| Trivandrum | 107.56 | 96.43 |
| Bhubaneswar | 101.06 | 92.64 |
The government of India lowered the price of gasoline and diesel in March by two rupees per liter. Fuel prices have been stable since May 2022 prior to that.
Every day at six in the morning, OMCs modify fuel retail prices in accordance with the price of crude oil globally. Through programs like base pricing, price ceilings, and excise taxes, the government regulates gasoline costs.
Current Prices of Crude Oil
The world’s biggest consumers of crude oil might reduce their consumption if US central bank officials’ remarks about higher-for-longer interest rates are taken seriously, as reported by Reuters. As a result, crude oil prices plummeted by about $1 per barrel on Friday.
The closing price of Brent oil futures was $82.79 a barrel, a decrease of $1.09 or 1.3%. US West Texas Intermediate oil finished the day down $1.00, or 1.3%, at $78.26 per barrel.
WTI had a 0.2% increase for the week, compared to a 0.2% decline for Brent.
Lorie Logan, the president of the Dallas Federal Reserve, said on Friday that it was uncertain whether the restrictive monetary policy in place would be sufficient to reduce inflation to the US central bank’s target of 2%.
Factors Influencing India’s Gas and Diesel Prices
Crude oil price: Since crude oil is the main component used to make gasoline and diesel, its price has a direct impact on the final cost of these fuels.
The US dollar-Indian rupee exchange rate is as follows: India is a significant importer of crude oil; hence, the exchange rate between the US dollar and the Indian rupee affects the price of gasoline and diesel in India.
Tax: Both the federal and state governments apply different taxes on gasoline and diesel. State-by-state variations in these taxes may have a significant impact on the final cost of gasoline and diesel.
The price of refinement:
The costs associated with refining crude oil into gasoline and diesel also have an impact on the ultimate pricing of these fuels. Refinement may be expensive, and the cost of refining can vary depending on the kind of crude oil used 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.
