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Petrol And Diesel Prices Today On May 15, 2024: Check Rates In Your City

Petrol and diesel prices in India are affected by factors such as freight charges, value-added tax (VAT), and local taxes.

By Newsd
Published on :
Petrol And Diesel Prices Today On May 16

Petrol And Diesel Prices Today On May 15: Every morning, oil marketing companies (OMCs) update petrol and diesel prices based on changes in global crude oil prices and foreign exchange rates.

Petrol and diesel prices in India are affected by factors such as freight charges, value-added tax (VAT), and local taxes.

In March, the government lowered the price of oil and diesel by two rupees per liter. The prices haven’t changed since May 2022.

The price of gas changes every day at 6 a.m. based on how much crude oil costs in other parts of the world. The government controls fuel costs with excise taxes, base prices, and price caps, among other things.

Petrol And Diesel Prices Today On May 15:

City PETROL PRICE (RS/LITRE) DIESEL PRICE (RS/LITRE)
Chennai 100.75 92.34
Kolkata 103.94 90.76
Noida 94.83 87.96
Lucknow 94.65 87.76
Bengaluru 99.84 85.93
Hyderabad 107.41 95.65
Jaipur 104.88 90.36
Trivandrum 107.56 96.43
Bhubaneswar 101.06 92.64

Prices of crude oil fell on Tuesday after US data fueled concerns that interest rates may remain high, but risks to supply from Mideast tensions and wildfires in Canada kept prices from falling further.

A barrel of Brent crude futures settled down 98 cents, or 1.18%, at $82.38 a barrel. A barrel of West Texas Intermediate crude futures (WTI) settled down $1.10, or 1.39%, at $78.02.

In April, US producer prices increased more than expected, raising fears the Federal Reserve may raise borrowing costs to combat inflation.

Gasoline and diesel prices are also affected by how much it costs to process crude oil. How much it costs to make oil better depends on the type of crude oil used and how well the refinery works.

Prices can also change based on how much gas and oil people want. If more people want fuel, the price might go up.

Also Read: Petrol And Diesel Prices Today On May 13, 2024: Check Rates In Your City

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