Fuel prices in India are updated every morning at 6 a.m., Oil marketing companies (OMCs) announce the prices of petrol and diesel. The changes in the prices of these highly volatile commodities in terms of prices is based on changes in global crude oil prices and changes in foreign exchange rates. These price changes ensure consumers get the latest fuel prices without any disparities.
City-wise Petrol and Diesel Prices On November 20:
| Check city-wise petrol and diesel prices on November 20: | ||
|---|---|---|
| City | Petrol Price (Rs/litre) | Diesel Price (Rs/litre) |
| Delhi | 94.72 | 87.62 |
| Mumbai | 103.44 | 89.97 |
| Chennai | 100.85 | 92.44 |
| Kolkata | 103.94 | 90.76 |
| Noida | 94.66 | 87.76 |
| Lucknow | 94.65 | 87.76 |
| Bengaluru | 102.86 | 88.94 |
| Hyderabad | 107.41 | 95.65 |
| Jaipur | 104.88 | 90.36 |
| Trivandrum | 107.62 | 96.43 |
| Bhubaneswar | 101.06 | 92.91 |
Multiple Factors influence the prices of petrol and diesel in the Indian market. First and foremost are the crude oil prices, as it is the main raw material that is used to produce petrol and diesel. Hence, has a direct effect on the retail cost. Additionally, fluctuations in the exchange rate between the Indian rupee and the US dollar influence the prices of the fuels.
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Fuel prices for petrol and diesel are influenced by various taxes levied by both the central and state governments. These taxes can differ from one state to another, having a significant impact on the final cost. The expenses associated with refining crude oil into petrol and diesel also contribute to fuel pricing. The costs of refining may vary based on factors such as the type of crude oil utilized and the efficiency of the refinery. Additionally, the demand for petrol and diesel can affect their pricing. Typically, an increase in demand leads to higher fuel prices.