Fuel Prices Today: The prices of petrol and diesel are disclosed daily at 6:00 a.m., regardless of whether they have increased or decreased. However, these prices vary by state due to factors including value-added tax (VAT), freight fees, and local taxes.
Factors Affecting Fuel Prices Today in India
Crude oil is the primary raw material used to produce petrol and diesel, so its price directly affects the ultimate price of these fuels.
Exchange rate between the Indian rupee and the US dollar. India imports most of its crude oil, so the exchange rate between the Indian rupee and the US dollar also influences the price of petrol and diesel.
The federal and state administrations impose a variety of taxes on petrol and diesel. These taxes can vary from state to state and have a substantial effect on the ultimate price of petrol and diesel.
The cost of refining crude oil into petrol and diesel effects the final price of these fuels as well. The cost of refining can vary based on a number of variables, including the type of crude oil used and the refinery’s efficacy.
The demand for fuel and diesel can also affect the prices of petrol and diesel. If the demand for these fuels increases, prices may rise.