New Delhi New Delhi:�Petrol, Diesel Prices Today on November 28, 2024: In India, oil marketing companies (OMCs) revise their petrol and diesel prices every day at 6 am. These adjustments are based on changes in global crude oil prices and fluctuations in foreign exchange rates. Daily updates ensure consumers receive the most current and accurate fuel prices, promoting consistency and transparency. Factors Affecting Petrol and Diesel Prices in India Crude Oil Prices: As the primary raw material for the production of petrol and diesel, fluctuations in crude oil prices directly affect the cost of the fuel. Exchange Rate: India, being a major importer of crude oil, is affected by changes in the exchange rate between the Indian Rupee and the US Dollar, which in turn affects fuel prices. Taxes: Petrol and diesel prices are subject to various taxes imposed by the central and state governments. These taxes can vary across states, significantly affecting the final price at the pump. Refining costs: The expenses involved in refining crude oil into petrol and diesel also determine fuel prices. These costs can vary depending on factors such as the type of crude oil used and the efficiency of the refinery. Demand: Higher demand for petrol and diesel often leads to an increase in fuel prices, as supply and demand dynamics come into play.
Comments are closed.