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Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On January 05

Petrol And Diesel Price Today: Check City-Wise Rates Across India Including In Delhi, Mumbai And Kolkata.

Petrol, Diesel Prices Today On January 05, 2024: Oil marketing companies (OMCs) change petrol and diesel prices daily at 6 a.m. This keeps prices clear and matches them with global crude oil market trends. The changes depend on international crude oil prices and currency exchange rates, ensuring consumers get the most accurate and updated fuel costs

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CityPetrol Price (Rs/litre)Diesel Price (Rs/litre)
Delhi94.7287.67
Mumbai103.5090.03
Chennai100.9092.48
Kolkata105.0191.82
Noida94.8788.01
Lucknow94.6987.81
Bengaluru102.9288.99
Hyderabad107.4695.70
Jaipur104.3889.90
Trivandrum107.4096.28
Bhubaneswar101.3992.96

Unchanged Fuel Prices Since May 2022

India’s petrol and diesel prices have remained stable since May 2022. This followed a significant tax reduction by the central government and several state governments to provide relief to consumers. Despite the price stability, the government continues to regulate fuel costs through excise duties, base pricing, and price caps.

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Key Factors Affecting Fuel Prices in India

Global Crude Oil Prices

Crude oil, the raw material for petrol and diesel, is a primary driver of fuel prices. Fluctuations in crude oil prices directly impact the cost at the pump.

Exchange Rate

India imports most of its crude oil, making the rupee-to-dollar exchange rate a critical factor. Any rupee depreciation increases the cost of imports, raising fuel prices.

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Taxes

Central and state governments levy excise duties and value-added taxes (VAT) on petrol and diesel. These taxes vary by state, leading to price differences across the country.

Freight and Local Charges

Transportation costs, state-specific levies, and local municipal taxes contribute to regional variations in fuel prices.

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Refining Costs

Refining crude oil into usable fuel adds to the overall cost. Refining costs depend on factors like the quality of crude oil and the efficiency of refineries.

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Rising demand for petrol and diesel, particularly during peak seasons, can drive prices higher.

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Daily updates on petrol and diesel prices provide consumers with crucial insights into the evolving fuel cost landscape, influenced by both global and local factors.

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