Fuel update: Regardless of how stable the prices are, oil marketing organizations (OMCs) announce the cost of gasoline and diesel every morning at six a.m. This regular procedure, which is managed by OMCs, comprises modifying pricing in response to variations in the price of crude oil and foreign exchange rates on a worldwide scale. This deliberate strategy guarantees that customers are aware of the daily fluctuations in fuel prices.
Value-added tax (VAT), municipal taxes, and freight costs are some of the factors that affect the price of gasoline and diesel in India, causing variations in prices between states.
Current Indian Price of Fuel: Petrol and Diesel (See the rate table below by city.)
Mumbai Fuel & Diesel Cost
The price of a litre of fuel is Rs 87.62 as of April 21.
Today’s Gas Prices in Delhi
The price of a litre of gasoline in Delhi is Rs 94.72 as of April 21.
Mumbai Gas Prices Right Now
Petrol prices in Mumbai remained above Rs 100 per liter as of April 21, hitting Rs 104.21.
Mumbai’s Current Diesel Price
In Mumbai, a gallon of diesel costs Rs 92.15 as of April 21.
Verify the cost of gasoline and diesel in each city on April 21.
gasoline prices in India have not changed since May 2022 as a result of the federal government and several state governments lowering gasoline taxes.
Every day at six in the morning, OMCs modify fuel retail prices in accordance with the price of crude oil globally. Through programs like base pricing, price ceilings, and excise tax, the government regulates fuel costs.
Factors Influencing India’s Gas and Diesel Prices
Crude oil price: Since crude oil is the main component used to make gasoline and diesel, its price has a direct impact on the final cost of these fuels.
The US dollar to Indian rupee exchange rate is as follows: India is a significant importer of crude oil, hence the exchange rate between the US dollar and the Indian rupee affects the price of gasoline and diesel in India.
Tax: Both the federal and state governments apply different taxes on gasoline and diesel. State-by-state variations in these taxes can have a significant impact on the final cost of gasoline and diesel.
The price of refinement:
The costs associated with refining crude oil into gasoline and diesel also have an impact on the final pricing of these fuels. Refinement can be expensive, and the cost of refining can vary depending on the type of crude oil used and the refinery’s efficiency.
The demand for gasoline and diesel: The demand for these fuels has the potential to impact pricing. Prices may rise if there is a greater demand for certain fuels.