Updated Prices for Gas and Diesel: Verify Prices in Your City on February 5
Petroleum and Diesel Rates on February 05, 2024: Each day, at the break of dawn, the prices of petroleum and diesel unveil themselves, regardless of whether they oscillate or remain unwavering. This recurrent phenomenon transpires as a consequence of oil marketing companies (OMCs) adjusting prices in response to shifts in global crude oil prices and foreign exchange rates.
Petrol and Diesel Rates Today in India (Examine city-specific rate details below)
Current Diesel Rate in Delhi
As of February 05, the price of diesel stands at Rs 89.62 per litre.
Current Petrol Rate in Delhi
As of February 05, the price of petrol in Delhi is Rs 96.72 per litre.
Petrol and Diesel Rates in Mumbai
On February 05, the cost of petrol in Mumbai persisted beyond the Rs 100 threshold, registering at Rs 106.31 per litre, while diesel was valued at Rs 94.27 per litre.
Verify city-specific petrol and diesel rates on February 05;
CITY PETROL RATE (RS/LITRE) DIESEL RATE (RS/LITRE)
Chennai 102.63- 94.24
Kolkata 106.03- 92.76
Noida 96.59- 89.82
Lucknow 96.62- 89.66
Bengaluru 101.94- 87.89
Hyderabad 109.66- 97.82
Jaipur 108.48- 93.72
Trivandrum 109.73- 98.24
Bhubaneswar 103.19- 94.75
In India, the pricing of petrol and diesel is subject to influences such as freight charges, value-added tax (VAT), and local taxes, leading to disparate rates across states.
Fuel prices have remained constant since May 2022, subsequent to a reduction in fuel taxes by the central government and various states.
Fuel retail prices are revised by OMCs daily at 6 am, predicated on the global price of crude oil. The government supervises fuel prices through mechanisms such as excise tax, base pricing, and price ceilings.
Factors Influencing Petrol And Diesel Prices In India
Crude oil price: The fundamental raw material for the production of petrol and diesel is crude oil, and consequently, its price distinctly impacts the ultimate cost of these fuels.
The exchange rate between the Indian rupee and the US dollar: As a significant importer of crude oil, India’s petrol and diesel prices are also swayed by the exchange rate between the Indian rupee and the US dollar.
Tax: Diverse taxes on petrol and diesel are levied by both the central and state governments. These taxes may vary across states, exerting a considerable influence on the ultimate prices of petrol and diesel.
The cost of refining:
The final price of petrol and diesel is further influenced by the expenditures incurred in refining crude oil into these fuels. The refining process can be expensive, and refining expenses may fluctuate based on factors such as the type of crude oil utilized and the efficiency of the refinery.
The demand for petrol and diesel: The demand for petrol and diesel can also impact their prices. An upsurge in demand for these fuels can lead to escalated prices.
