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Petrol And Diesel Prices Today On May 5, 2024: Check Rates In Your City

The petrol and diesel prices in India vary from state to state due to freight charges, value-added tax (VAT), and local taxes.

By Newsd
Published on :
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Petrol And Diesel Prices Today On May 5: Oil marketing companies (OMCs) announce petrol and diesel prices every morning at 6 a.m., regardless of volatility.

OMCs adjust prices when crude oil prices and foreign exchange rates change.

A meticulous strategy like this keeps consumers informed about fluctuating fuel costs.

The petrol and diesel prices in India vary from state to state due to freight charges, value-added tax (VAT), and local taxes.

Several states and the federal government reduced fuel taxes in May 2022, resulting in stable fuel prices.

Every morning at 6 a.m., OMCs adjust retail fuel prices based on global crude oil prices.

Petrol And Diesel Prices Today On May 5:

City Petrol Price (RS/LITRE) Diesel Price(RS/LITRE)
Delhi 94.72 87.62
Mumbai 104.21 92.15
Chennai 100.75 92.34
Kolkata 103.94 90.76
Noida 95.01 88.14
Lucknow 94.56 87.66
Bengaluru 99.84 85.93
Hyderabad 107.41 95.65
Jaipur 104.88 90.36
Trivandrum 107.62 96.49
Bhubaneswar 101.06 92.64

In addition to taxes, base prices, and price caps, fuel prices are regulated by the government.

The price of crude oil, which is their primary raw material, directly affects the price of petrol and diesel.

Petrol and diesel prices also fluctuate because of India’s crude oil imports. Petrol and diesel are taxed differently by state and federal governments.

Additionally, these expenses affect crude oil refining costs as well as petrol and diesel prices.

The efficiency of a refinery and the type of crude oil it uses can affect its cost.

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

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

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