Petrol Diesel Price Today: Has petrol and diesel become cheaper today? You will be surprised to know the new update

Petrol Diesel Price Today: Amidst the continuous increase and decrease in petrol and diesel prices, there is no change in the prices of petrol and diesel across India today, 4th July. Prices have remained stable for the last several days. For your information, let us tell you that the prices have been stable for some time. Let us know what are the prices of petrol and diesel today i.e. on 4th July.

Petrol and diesel prices in main cities

Delhi: Petrol ₹102.12, Diesel ₹95.20
Mumbai: Petrol ₹111.21, Diesel ₹97.83
Kolkata: Petrol ₹113.51, Diesel ₹99.82
Chennai: Petrol ₹107.76, Diesel ₹99.95
Bengaluru: Petrol ₹111.68, Diesel ₹99.80

Prices in cities of Telangana and Andhra Pradesh:

Hyderabad: Petrol ₹115.69, Diesel ₹103.82
Vijayawada: Petrol ₹117.25, Diesel ₹104.96
Visakhapatnam: Petrol ₹116.39, Diesel ₹104.11

There may be slight difference in prices in different cities due to state government taxes and local reasons. Every day at 6 am, oil companies like IOC, BPCL and HPCL review the prices. No increase of any kind was made today.

Why did the prices not decrease?

In May and June, crude oil prices had increased due to tensions in West Asia. At that time, the prices of petrol and diesel had increased by an average of ₹ 2 to ₹ 3 in some phases. Now the prices of crude oil are stable in the international market. On July 3, the price of WTI crude was around $68.77 per barrel and the price of Brent crude was around $71–72 per barrel. Last month, crude oil prices have fallen by about 24 to 26 percent.

Despite this, petrol and diesel have not been made cheaper in India. The reason for this is that Indian oil companies had earlier purchased crude oil at a higher price, due to which they suffered a loss of more than ₹ 74,000 crore. Therefore, despite oil becoming cheaper in the international market, the prices of petrol and diesel have not been reduced in the country at present.

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