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Petrol, diesel prices today March 4, 2024 : Crude oil prices are increasing in the international market. At around 6 am on Monday morning, WTI crude is being sold at $ 80.19 per barrel. At the same time, Brent crude is trading at $ 83.83 per barrel. Oil marketing companies in the country have released the latest rates of petrol and diesel. In India, fuel prices are changed every day at 6 am. Before June 2017, prices were revised every 15 days.
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.
Change in the price of petrol diesel today
In Maharashtra, the price of petrol has increased by 96 paise and the price of diesel has increased by 92 paise. In Uttar Pradesh, petrol has become costlier by 67 paise and diesel by 65 paise. Apart from this, prices of petrol and diesel are also increasing in Rajasthan, Madhya Pradesh, Chhattisgarh and Himachal Pradesh. At the same time, in Bihar petrol has become cheaper by 28 paise and diesel by 26 paise. A decline in the prices of petrol and diesel is being seen in Andhra Pradesh, Telangana, Tamil Nadu and Odisha.
Petrol Diesel Price in India Today (See City Wise Rate List Below)
Mumbai petrol and diesel price
As of March 4, petrol prices in Mumbai continued to cross Rs 100, reaching Rs 106.31 per litre, while diesel prices stood at Rs 94.27 per litre.
Delhi diesel price today
As of March 4, the price of diesel is Rs 89.62 per liter.
Delhi petrol price today
As of March 4, the price of petrol in Delhi is Rs 96.72 per liter.
Check city wise petrol and diesel prices on March 4 ,
| City | Petrol Price (Rs/Litre) | Diesel Price (Rs/Litre) |
| 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 |
| Thiruvananthapuram | 109.73 | 98.53 |
| Bhubaneswar | 103.19 | 94.75 |
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.