New Prices for Gas and Diesel Announced: Verify Rates in Your City on March 13
Petroleum and Diesel Prices on March 13, 2024: The reverberations of the softening in oil and gas prices across the global market reverberate in the domestic retail market as well. Notably, compressed natural gas (CNG) witnessed a reduction in price in the National Capital Region on Thursday morning, coinciding with the decline in prices of petroleum and diesel.
Presently, the descent in oil prices is evident in numerous cities across Uttar Pradesh and Bihar. Concurrently, the global crude oil price has once again dipped below $83 per barrel. Furthermore, oil marketing entities in the nation have unveiled the latest tariffs for petroleum and diesel. It’s noteworthy that in India, fuel prices undergo revision every morning at 6 am, a departure from the bi-monthly revisions before June 2017.
In India, the pricing dynamics of petroleum and diesel are intricately tied to variables such as freight charges, value-added tax (VAT), and local levies, resulting in varying rates across different states.
Today’s Alterations in Petroleum and Diesel Prices
In Assam, petroleum has witnessed a reduction of 29 paise, reaching Rs 98.33 per liter, while diesel has decreased by 28 paise to Rs 90.63 per liter. Similarly, in Bihar, petroleum has seen a decrease of 19 paise, now standing at Rs 109.18 per liter, and diesel has declined by 18 paise, reaching Rs 95.83 per liter.
In Chhattisgarh, the price of petroleum has diminished by 5 paise, settling at Rs 103.58 per liter, and diesel has undergone a decrease of 4 paise, now priced at Rs 96.55 per liter. Likewise, in Himachal Pradesh, petroleum has descended by 8 paise, registering at Rs 95.62 per liter, while diesel has seen a similar reduction, now standing at Rs 87.84 per liter. In Jammu and Kashmir, petroleum has witnessed a significant decrease of 87 paise, now priced at Rs 100.65 per liter, whereas diesel has dropped by 72 paise to Rs 85.88 per liter. In Jharkhand, petroleum has experienced a minor reduction of 2 paise, reaching Rs 100.21 per liter, while diesel has seen a marginal decrease of 3 paise, now priced at Rs 95.00 per liter.
In Karnataka, petroleum has seen a diminutive decrease of 2 paise, now standing at Rs 102.60 per liter, and diesel has undergone a similar reduction, now priced at Rs 88.51 per liter. Similarly, in Tamil Nadu, petroleum has decreased by 3 paise, reaching Rs 103.88 per liter, while diesel has seen a marginal reduction of 2 paise, now priced at Rs 95.50 per liter. In West Bengal, petroleum has witnessed a reduction of 25 paise, now standing at Rs 107.26 per liter, while diesel has seen a decrease of 24 paise, reaching Rs 93.90 per liter.
Conversely, today has seen an increase in the prices of both petroleum and diesel in Andhra Pradesh, Goa, Gujarat, Haryana, Kerala, Madhya Pradesh, Maharashtra, Manipur, Nagaland, Odisha, Telangana, Uttar Pradesh, and Uttarakhand.
Today’s Petroleum and Diesel Prices Across India (Refer to the city-wise rate list below)
Mumbai’s Petroleum & Diesel Prices
As of March 13, the price of petroleum in Mumbai continues to surpass the Rs 100 mark, currently standing at Rs 106.31 per liter, whereas diesel is priced at Rs 94.27 per liter.
Diesel Price in Delhi Today
As of March 13, the price of diesel stands at Rs 89.62 per liter in Delhi.
Petroleum Price in Delhi Today
As of March 13, the price of petroleum in Delhi is Rs 96.72 per liter.
Check the city-wise prices of petroleum and diesel on March 13:
| CITY | PETROLEUM PRICE (RS/LITER) | DIESEL PRICE (RS/LITER) |
|---|---|---|
| Chennai | 102.63 | 94.24 |
| Kolkata | 106.03 | 92.76 |
| Noida | 96.79 | 89.96 |
| Lucknow | 96.57 | 89.76 |
| Bengaluru | 101.94 | 87.89 |
| Hyderabad | 109.66 | 97.82 |
| Jaipur | 108.48 | 93.72 |
| Trivandrum | 109.73 | 98.53 |
| Bhubaneswar | 103.19 | 94.75 |
In India, fuel prices have maintained stability since May 2022, following a reduction in fuel taxes by both the central government and various state governments.
The retail prices of fuel are adjusted daily at 6 am by oil marketing companies (OMCs), keeping in line with the fluctuations in global crude oil prices. The government exercises oversight over fuel prices through mechanisms such as excise duties, base pricing, and price caps.
Factors Influencing Petroleum and Diesel Prices in India
Crude oil prices: The primary constituent for the production of petroleum and diesel, the prices of crude oil directly impact the final cost of these fuels.
Exchange rate between the Indian rupee and the US dollar: As a significant importer of crude oil, India’s petroleum and diesel prices are susceptible to fluctuations in the exchange rate between the Indian rupee and the US dollar.
Taxation: Both the central and state governments levy various taxes on petroleum and diesel, with these taxes varying across different states, thereby exerting a considerable influence on their final prices.
Refining costs: The ultimate prices of petroleum and diesel are further influenced by the costs incurred in refining crude oil into these fuels. The refining process entails significant expenses, which may fluctuate based on factors such as the type of crude oil utilized and the efficiency of the refinery.
Demand dynamics: The prices of petroleum and diesel can also be influenced by fluctuations in demand. Increased demand for these fuels can lead to upward pressure on prices.
