On December 21st, oil marketing companies released the new rates for petrol and diesel. Prices vary across different cities, including metropolitan areas. Fuel prices directly impact the daily expenses of the common people.
Petrol-Diesel Price Today: The start of each day isn't just marked by morning tea, but also by the prices of petrol and diesel. Fuel prices play a significant role in the daily life of the common person. Whether it's commuting to the office, dropping children off at school, or transporting goods, the prices of petrol and diesel affect every expense. On December 21st, the country's oil marketing companies (OMCs) released the new rates for petrol and diesel at 6 AM. Based on these latest prices, you can easily estimate your upcoming expenses in your city.
Why do Petrol-Diesel Prices Change Daily?
In India, petrol and diesel prices are determined daily. This system was implemented to maintain transparency. Every morning at 6 AM, companies like Indian Oil, Bharat Petroleum, and Hindustan Petroleum release new rates, taking into account the price of crude oil in the international market and the exchange rate of the rupee against the dollar. This has a direct impact on the pockets of the common people. Therefore, keeping an eye on fuel prices has become extremely important in today's time.
Petrol-Diesel Prices in Metropolitan Cities on December 21st
Petrol and diesel prices vary across different cities in the country. The main reason for this is the taxes imposed by the states. According to the rates issued on December 21st, petrol is selling at ₹94.72 per liter and diesel at ₹87.62 per liter in New Delhi. In Mumbai, petrol costs ₹104.21 and diesel ₹92.15 per liter. In Kolkata, petrol is priced at ₹103.94 and diesel at ₹90.76 per liter.
In Chennai, petrol is ₹100.75 and diesel ₹92.34 per liter. In Ahmedabad, petrol is ₹94.49 and diesel ₹90.17 per liter. In Bengaluru, petrol is ₹102.92 and diesel ₹89.02 per liter.
Today's Rates in Other Major Cities
In Hyderabad, petrol is ₹107.46 and diesel ₹95.70 per liter. In Jaipur, petrol is ₹104.72 and diesel ₹90.21 per liter. In Lucknow, petrol is ₹94.69 and diesel ₹87.80 per liter. In Pune, petrol is ₹104.04 and diesel ₹90.57 per liter.
In Chandigarh, petrol is ₹94.30 and diesel ₹82.45 per liter. In Indore, petrol is ₹106.48 and diesel ₹91.88 per liter. In Patna, petrol is ₹105.58 and diesel ₹93.80 per liter. In Surat, petrol is ₹95.00 and diesel ₹89.00 per liter. In Nashik, petrol is ₹95.50 and diesel ₹89.50 per liter.
Why have Petrol-Diesel Prices been Stable for the Past Two Years?
If you have been following fuel prices for some time, you may have noticed that there has been no major change in the prices of petrol and diesel. After May 2022, the central government and several state governments reduced taxes on petrol and diesel. Since then, prices have remained relatively stable. Even though the prices of crude oil fluctuate in the international market, its impact on the Indian market is limited.
What Factors Determine Fuel Prices?
Petrol and diesel prices are determined by several factors. The most important role is played by the prices of crude oil in the international market. Since petrol and diesel are produced from crude oil, when crude oil becomes expensive, there is pressure on fuel prices.
The second major factor is the position of the rupee against the dollar. India imports most of its crude oil needs and pays for it in dollars. If the rupee weakens, oil imports become more expensive, and this affects the prices of petrol and diesel.
Government taxes and duties also significantly affect prices. The central and state governments levy excise duty and VAT on petrol and diesel. This is why fuel prices vary in each state.
In addition, the cost of refining is also an important factor. There is an expense involved in the process of making crude oil usable, which is added to the prices. The balance of supply and demand also plays a role in determining prices. Fuel consumption increases during festivals, summer, and winter, which can affect prices.
How to Find the Latest Rate for Your City via SMS
If you want to check petrol and diesel prices every day, SMS makes this task very easy. Indian Oil customers can send their city code with RSP to 9224992249. BPCL customers can send RSP to 9223112222. HPCL customers can SMS HP Price to 9222201122. You will receive the latest rate information on your mobile phone in a few seconds.
