Petrol Diesel Price Today: After America-Iran peace agreement, crude oil softened, oil companies released new prices of petrol and diesel; Know the latest rates of your city

Every day starts not only with new rays of the sun, but also with the new prices of petrol and diesel which directly affect the budget and kitchen of the common man. Every day at exactly 6 am, the country’s major oil marketing companies (OMCs) release the latest fuel prices. These rates are decided on the basis of crude oil prices in the international market and changes in the exchange rate of rupee against dollar.

On the global front, after the US-Iran Peace Deal, the price of international benchmark Brent crude has fallen by more than 1% to around $78 per barrel. Amidst this softening of crude oil, oil companies have kept the prices stable in the Indian market today. Let us know what is the price of petrol and diesel in the major metros of the country and your city.

Latest rates of petrol and diesel in major cities of the country

Due to differences in local VAT and freight charges in different states of India, fuel prices vary from city to city. Major cities are listed below:

Why have prices remained stable for the last two years?

If we look at the history of the Indian fuel market, there were major cuts in tax and excise duty by the Central Government and many state governments from May 2022 onwards. Since then, a great stability is being seen in the retail prices of petrol and diesel. Although crude oil prices in the international market constantly fluctuate due to geopolitical reasons, prices remain relatively stable for Indian consumers due to the price stabilization mechanism of domestic oil companies.

What are the main factors that determine daily fuel prices?

The final retail price of petrol and diesel mainly depends on the following 5 big financial and technical factors:

1. International Crude Oil Prices: Petrol and diesel are produced mainly from crude oil. Since India imports more than 85% of its crude needs, any boom or recession in the global market directly impacts the Indian market.

2. Movement of rupee against dollar: Crude oil is purchased internationally in US dollars ($). If the Indian rupee weakens against the dollar, the import bill of companies increases and fuel becomes expensive.

3. Government Taxes and Fees: Excise duty imposed by the central government and VAT charged by state governments form a large part of the retail price. This is the main reason why prices change in different states and cities.

4. Cost of Refining: The process of converting crude oil imported from abroad into usable form (petrol-diesel) adds to the operating expenses of refineries. This cost depends on the quality of the crude and the capacity of the refinery.

5. Balance of demand and supply: Increase in demand for fuel in the domestic market also impacts prices. The supply pressure increases especially during festivals, sowing season, extreme summer or winter season when fuel consumption in vehicles and generators is high.

How to check live rate at home with just one SMS

If you want to know the accurate and updated prices of your city every morning, you can avail the SMS service without internet of oil companies:

• Customers of Indian Oil: Type in the message box of your mobile rsp [अपने शहर का डीलर कोड] and it 9224992249 Send it to.

• BPCL Customers: in the message box rsp [अपने शहर का कोड] by writing 9223112222 Send to.

• HPCL Customers: from your phone HP Price [अपने शहर का कोड] by writing 9222201122 Send it to.