Petrol-Diesel Price Today: Crude oil prices fluctuate, but petrol-diesel prices stable in India, know the reason

New Delhi: There has been no change in the prices of petrol and diesel across the country for the last one month. Even on June 27, government oil companies kept fuel prices stable. However, there remains uncertainty about the coming days due to fluctuations in the international crude oil market and ongoing tensions in West Asia. In such a situation, people want to know what are the current prices of petrol and diesel in different cities and what are the reasons for deciding their prices.

The prices of petrol and diesel were last increased in the country on May 25. At that time, government oil companies had increased the price of petrol by Rs 2.61 per liter and diesel by Rs 2.71 per liter. Since then, no new change has been made in fuel prices. However, there is continuous fluctuation in the prices of crude oil in the global market. The increasing tension in West Asia and the uncertain situation on maritime trade routes are being considered as the main reasons behind this.

What are the latest prices in big cities?

The price of petrol in the national capital Delhi still remains above Rs 100 per liter. Here petrol is being sold at Rs 102.12 per liter and diesel at Rs 95.20 per liter. The price of petrol in Mumbai is Rs 111.21 per liter, while diesel is available at Rs 97.83 per liter. At the same time, even in big cities like Bengaluru, Hyderabad and Kolkata, the price of petrol remains more than Rs 110 per liter. The price of diesel is less than Rs 100 in most cities, but in Hyderabad it is at the level of Rs 103.82 per liter.

How are the prices of petrol and diesel decided?

The prices of petrol and diesel in India depend on many domestic and international factors. Among these, the price of crude oil plays the most important role in the international market. Since petrol and diesel are produced from crude oil, the increase or decrease in its price has a direct impact on the price of fuel. Apart from this, India imports a large part of its needs from abroad. In such a situation, the position of rupee against dollar is also very important. If the rupee weakens then buying crude oil becomes expensive, the effect of which later reaches the consumers.

Why are prices different in different states?

Often the question comes in people’s mind that why the prices of petrol and diesel are different in different cities of the same country. The biggest reason for this is the taxes imposed by the central and state governments. VAT and other local taxes vary from state to state, which leads to differences in prices. Apart from this, the expense of transporting oil from one place to another, transportation cost and local demand-supply situation also affect the retail prices. This is the reason why the prices of petrol and diesel are different from each other in Delhi, Mumbai, Bengaluru, Hyderabad and other cities.