Diesel Rates In India are revised at 06:00 AM every day. This is done to make sure that even a minute’s variation in global oil prices can be transmitted to the fuel users and dealers. The price of fuel includes Excise Duty, Value Added Tax (VAT), and dealer commission. VAT varies from state to state. After adding Excise duty, dealer commission, and VAT, the retail selling price of petrol nearly doubled. Various factors impact the price of the fuel. These include the rupee to US dollar exchange rate, the cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher.
The petrol rates in India are also revised at 6 AM so that every minute’s variation in global oil prices is transmitted to the fuel users and dealers.
The price of fuel includes Excise duty, Value Added Tax (VAT), and Dealer Commission. VAT varies From State To State. After adding Excise Duty, Dealer Commission, and VAT, the retail selling price of petrol gets doubled. The various factors that impact the price of the fuel include rupee to US dollar exchange rate, the cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India tend to move higher.
Petrol, Diesel Price In Mumbai Today
As of January 31, the price of petrol in Mumbai continued to exceed the Rs 100 mark, reaching Rs 106.31 per liter, while diesel was priced at Rs 94.27 per liter.
Petrol, Diesel Price In Delhi Today
As of January 31, the cost of petrol in Delhi is Rs 96.72 per liter and the cost of diesel is priced at Rs 89.62 per liter.
Petrol, Diesel Price In Different Cities
| CITY | PETROL PRICE (RS/LITRE) | DIESEL PRICE (RS/LITRE) |
| Chennai | 102.63 | 94.24 |
| Kolkata | 106.03 | 92.76 |
| Noida | 96.65 | 89.82 |
| Lucknow | 96.47 | 89.66 |
| Bengaluru | 101.94 | 87.89 |
| Hyderabad | 109.66 | 97.82 |
| Jaipur | 108.48 | 93.72 |
| Trivandrum | 109.42 | 98.24 |
| Bhubaneswar | 103.18 | 94.75 |
The fuel prices in India have remained steady since May 2022, following a reduction in fuel taxes by the central government and several states. The fuel retail prices are adjusted by OMCs daily at 6 am based on the global price of crude oil. The government oversees fuel prices through mechanisms such as excise tax, base pricing, and price caps.
Since the primary raw material for the production of petrol and diesel is crude oil, hence its price directly influences the ultimate cost of these fuels. Being a major importer of crude oil, India’s fuel prices are also influenced by the exchange rate between the Indian rupee and the US dollar. In addition, the demand for petrol and diesel also affects their prices. If demand for the fuels increases, it leads to their higher prices.
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