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Petrol, diesel prices today 24 March 2024: Every morning at 6 am, oil marketing companies (OMCs) disclose the prices of petrol and diesel, regardless of their stability. This continuous process overseen by the OMC involves adjusting prices according to changes in global crude oil prices and foreign exchange rates. This systematic approach ensures that consumers are aware of daily changes in fuel costs.
In India, the price of petrol and diesel is subject to influences such as freight charges, value added tax (VAT) and local taxes, resulting in different rates across states.
Petrol Diesel Price in India Today (See City Wise Rate List Below)
Mumbai petrol and diesel price
mumbai petrol price today
By March 24, the price of petrol in Mumbai crossed the Rs 100 mark and reached Rs 104.21 per liter.
Diesel price today in Mumbai
As of March 24, the price of diesel in Mumbai is Rs 92.15 per liter.
Delhi diesel price today
As of March 24, the price of diesel is Rs 87.62 per liter.
Delhi petrol price today
As of March 24, the price of petrol in Delhi is Rs 94.72 per liter.
Check city wise petrol and diesel prices on March 24 ,
| City | Petrol Price (Rs/Litre) | Diesel Price (Rs/Litre) |
| Chennai | 100.98 | 92.56 |
| Kolkata | 103.94 | 90.76 |
| Noida | 94.80 | 87.93 |
| Lucknow | 94.65 | 87.76 |
| Bengaluru | 99.84 | 85.93 |
| Hyderabad | 107.41 | 95.65 |
| Jaipur | 104.88 | 90.36 |
| Thiruvananthapuram | 107.25 | 96.13 |
| Bhubaneswar | 101.60 | 93.16 |
In India, fuel prices have remained stable since May 2022, following cuts in fuel taxes by the central government and several states.
Retail prices of fuel are adjusted daily by OMCs at 6 am based on the global price of crude oil. The government monitors fuel prices through mechanisms such as excise duty, base pricing and price caps.
Factors affecting petrol and diesel prices in India
Crude Oil Price: The primary raw material for the production of petrol and diesel is crude oil, and thus, its price directly affects the final cost of these fuels.
Exchange rates between Indian Rupee and US Dollar: As a major importer of crude oil, India's petrol and diesel prices are also influenced by the exchange rate between the Indian rupee and the US dollar.
Tax: Various taxes are imposed on petrol and diesel by both the central and state governments. These taxes may vary from state to state, which can significantly impact the final prices of petrol and diesel.
Cost of Refinement:
The final price of petrol and diesel is also affected by the cost of refining crude oil into these fuels. The refining process can be expensive, and refining expenses can fluctuate depending on factors such as the type of crude oil used and the efficiency of the refinery.
Demand for petrol and diesel: The demand for petrol and diesel can also affect their prices. If demand for these fuels increases, it could lead to higher prices.