Each morning begins not only with sunrise but also with the announcement of fresh petrol and diesel rates that directly impact the common man’s budget. At 6 am daily, India’s oil marketing companies release updated prices based on fluctuations in international crude oil markets and the dollar-rupee exchange rate. These changes influence everyday life whether it’s a commuter heading to work or a vegetable vendor running a business.
Staying informed about daily fuel prices is not just necessary but prudent. The government’s dynamic pricing mechanism ensures transparency, preventing consumers from receiving misleading information about rates.
Today’s Petrol-Diesel Prices in Your City
Mumbai: Petrol ₹104.21, Diesel ₹92.15
Kolkata: Petrol ₹103.94, Diesel ₹90.76
Chennai: Petrol ₹100.75, Diesel ₹92.34
Ahmedabad: Petrol ₹94.49, Diesel ₹90.17
Bengaluru: Petrol ₹102.92, Diesel ₹89.02
Hyderabad: Petrol ₹107.46, Diesel ₹95.70
Jaipur: Petrol ₹104.72, Diesel ₹90.21
Lucknow: Petrol ₹94.69, Diesel ₹87.80
Pune: Petrol ₹104.04, Diesel ₹90.57
Chandigarh: Petrol ₹94.30, Diesel ₹82.45
Indore: Petrol ₹106.48, Diesel ₹91.88
Patna: Petrol ₹105.58, Diesel ₹93.80
Surat: Petrol ₹95.00, Diesel ₹89.00
Nashik: Petrol ₹95.50, Diesel ₹89.50
Why Have Prices Remained Stable for Two Years?
Following tax reductions implemented by the central government and several states in May 2022, petrol and diesel prices have shown remarkable stability. Despite ongoing volatility in international markets, rates for Indian consumers have remained relatively unchanged.
What Factors Determine Fuel Prices?
1. Crude Oil Rates:
Petrol and diesel are primarily derived from crude oil. When global crude prices rise, the impact is felt directly in the Indian market.
2. Rupee-Dollar Exchange Rate:
India imports the majority of its crude oil, purchased in US dollars. A weakening rupee makes fuel more expensive domestically.
3. Government Taxes and Duties:
Central and state governments levy substantial taxes on petrol and diesel, which constitute a significant portion of retail prices. This explains the price variation across different states.
4. Refining Costs:
The process of converting crude oil into usable fuel involves expenses that depend on crude quality and refinery capacity.
5. Demand and Supply Balance:
Market prices increase when fuel demand rises, particularly during festivals and extreme weather conditions when consumption spikes.
Read More: How US Attack On Venezuela Impacts India’s Stock Market, Crude Oil Bill
How to Check Fuel Prices in Your City via SMS
For mobile users wanting to verify fuel rates, the process is straightforward:
Indian Oil customers: Type your city code and send it with “RSP” to 9224992249
BPCL customers: Send “RSP” to 9223112222
HPCL customers: Send “HP Price” to 9222201122