New Prices for Petrol and Diesel Announced on March 19: Understand Fuel Prices in Your City

Reduced Prices for Gas and Diesel are effective. Today, March 19, 2024: Around six in the morning on Tuesday, WTI oil was trading at $82.67 per barrel on the foreign market, down 0.06% from its peak. In parallel, Brent crude is down 0.02% to trade at $86.87 a barrel. We would like to inform you that as of March 15, oil firms have lowered the price of gasoline and diesel by Rs 2. In Lakshadweep, petrol and diesel have decreased in price by Rs 15 concurrently. Tell us how much the price of gasoline and diesel has changed. The most recent fuel rates are announced in India every morning at six o’clock.

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.

Verify the cost of gasoline and diesel in each city on March 19:

Petrol costs Rs 94.83 a litre in Noida, while diesel costs Rs 87.96.

Gurgaon: The cost of gasoline is Rs 95.19 per litre, while diesel is Rs 88.05.

Lucknow: The price of gasoline is Rs 94.65 and diesel is Rs 87.76 a litre.

Chandigarh: The cost of gasoline is Rs 94.24 and diesel is Rs 82.40 a litre.

Jaipur: The price of gasoline is Rs 104.88 and diesel is Rs 90.36 a litre.

Petrol costs Rs. 105.18 and diesel costs Rs. 92.04 per litre in Patna.

Hyderabad: The price of gasoline is Rs 107.41 and diesel is Rs 95.65 a litre.

Bengaluru: The price of gasoline is Rs 99.84 and diesel is Rs 85.93 a litre.

Metro prices for gasoline and diesel (Petrol Diesel Prices)

The price of gasoline in the nation’s capital has decreased to Rs 94.72 per liter from Rs 96.72 per liter before this drop (Petrol Price Today in Delhi). Diesel, on the other hand, used to cost Rs 89.62 a litre, but now it costs Rs 87.62 in Delhi. Today, a liter of fuel costs Rs 104.21 in Mumbai, Rs 103.94 in Kolkata, and Rs 100.75 in Chennai. In Mumbai, Kolkata, and Chennai, the cost of diesel has increased to Rs 92.15, Rs 90.76, and Rs 92.34 a liter, respectively.

Rajasthani Government Lowers VAT

Bhajan Lal Sharma, the chief minister of Rajasthan, also said on Thursday that the state’s gasoline and diesel VAT rates will drop by 2% as of Friday. According to Sharma, purchasers will benefit from a VAT reduction of between Rs 1.40 and Rs 5.30 for gasoline and between Rs 1.34 and Rs 4.85 for diesel. At the moment, the Rajasthani government taxes gasoline at 31.04% and diesel at 19.30%.

gasoline prices in India have not changed since May 2022 as a result of the federal government and many state governments lowering gasoline taxes.

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.

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.