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Petrol- Diesel Price Today: New prices of petrol- diesel released, check latest update before filling the tank

Petrol-Diesel Price Today

Petrol, diesel prices today February 20, 2024 : If you have also reached or are going to the petrol pump to fill the tank of your car or bike, then this news is useful for you. There is a big jump in the prices of crude oil in the global market. Its effect was also visible on the prices of petrol and diesel released in the retail market on Tuesday morning. Government oil companies have changed oil prices in many cities today.

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

According to government oil companies, today petrol in Gautam Buddha Nagar became cheaper by 7 paise to Rs 96.58 per liter. Here diesel is also being sold after falling by 7 paise at Rs 89.78 per litre. In Lucknow, the capital of Uttar Pradesh, petrol has become costlier by 12 paise to Rs 96.59 per liter and diesel has become costlier by 12 paise to Rs 89.78 per liter. Apart from this, petrol has become costlier by 24 paise to Rs 97.49 per liter in Faridabad, Haryana, while diesel is being sold at Rs 90.35 per liter with an increase of 24 paise.

Petrol Diesel Price in India Today (See City Wise Rate List Below)

Mumbai petrol and diesel price

As of February 20, 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 February 20, the price of diesel is Rs 89.62 per liter.

Delhi petrol price today

As of February 20, the price of petrol in Delhi is Rs 96.72 per liter.

Check city wise petrol and diesel prices on 20th February ,

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.