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Petrol And Diesel Prices Today On May 4, 2024: Check Rates In Your City

Petrol and diesel prices in India vary according to factors such as freight charges, value-added tax (VAT), and local taxes.

By Newsd
Published on :
Petrol And Diesel Prices Today On May 20

Petrol And Diesel Prices Today On May 4: Petrol and diesel rates are disclosed every morning at 6 am, regardless of fluctuations or stability.

As global crude oil prices and foreign exchange rates fluctuate, oil marketing companies (OMCs) adjust prices accordingly.

As a result, consumers are kept informed about fuel cost adjustments on a daily basis.

Petrol and diesel prices in India vary according to factors such as freight charges, value-added tax (VAT), and local taxes.

The government reduced petrol and diesel prices by Rs 2 per litre across India last month. Prior to that, fuel prices had been steady since May 2022.

Petrol And Diesel Prices Today On May 4

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

Oil marketing companies adjust fuel retail prices daily at 6 a.m., based on the global price of crude oil. The government regulates fuel prices through mechanisms such as excise tax, base prices, and price caps.

As investors weighed weak U.S. jobs data and the possibility of a Federal Reserve interest rate cut, oil prices settled lower on Friday, posting their steepest weekly loss in three months.

U.S. West Texas Intermediate crude for June fell 84 cents, or 1.06 percent, to $78.11. Brent crude futures for July settled 71 cents lower, or 0.85 percent, at $82.96 a barrel.

After the Federal Reserve kept interest rates steady this week, investors were concerned that higher borrowing costs would curb economic growth in the U.S., the world’s leading oil consumer.

Expenses incurred in refining crude oil into petrol and diesel also affect the final price of these fuels.

The cost of refining can vary depending on factors like the type of crude oil used and the efficiency of the refinery.

Fuel prices can also be affected by the demand for petrol and diesel. If the demand for these fuels increases, prices can rise.

Alsso Read: Petrol And Diesel Prices Today On May 3, 2024: Check Rates In Your City

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