Have petrol and diesel rates dropped ahead of Rakhi? Check today's latest price per liter.
Petrol and diesel prices in the country have remained stable since May 25. At that time, state-run oil marketing companies (OMCs) had hiked petrol prices by ₹2.61 per liter and diesel prices by ₹2.71 per liter.
A sharp decline in crude oil prices is being observed in the international market following the imposition of new, stringent US sanctions on Iran. State-owned oil marketing companies (OMCs) like IOCL, BPCL, and HPCL are keeping a close watch on these developments. Given this drop in crude oil prices, consumers across the country are wondering if this will lead to a reduction in petrol and diesel prices in the domestic market.
Why aren't petrol and diesel rates coming down?
It is worth noting that despite the fall in crude oil prices, a reduction in domestic petrol and diesel prices is unlikely in the immediate future. The primary reason is that oil companies had largely kept domestic retail prices in check when US-Iran tensions peaked in recent months. Instead of passing the burden of price hikes on to the public, the oil companies absorbed the losses themselves; they are now recouping those past losses. Due to this uncertainty, oil companies are not rushing to lower prices.
Today's petrol and diesel prices
Petrol and diesel prices remain stable across the country today. Fuel rates in India have not changed since May 25, when state-run oil marketing companies (OMCs) raised petrol prices by ₹2.61 per liter and diesel prices by ₹2.71 per liter.
| City | Petrol Price (Per Litre) | Diesel Price (Per Litre) |
|---|---|---|
| Delhi | ₹102.12 | ₹95.20 |
| Mumbai | ₹111.31 | ₹97.97 |
| Kolkata | ₹113.51 | ₹99.82 |
| Chennai | ₹107.78 | ₹99.56 |
| Hyderabad | ₹115.69 | ₹103.82 |
| Patna | ₹113.35 | ₹99.36 |
| Jaipur | ₹112.66 | ₹97.78 |
| Bhubaneswar | ₹103.19 | ₹100.68 |
| Bengaluru | ₹110.82 | ₹98.77 |
Why do rates vary across different cities?
Taxes levied by central and state governments constitute a significant portion of the final retail price of petrol and diesel. Since tax rates differ from state to state, consumers in different cities end up paying different prices for the same type of fuel. Apart from taxes, factors such as freight and transportation costs, local market conditions, and other elements influencing fuel pricing also impact the final price charged at petrol pumps.
The final retail prices of petrol and diesel across the country vary due to taxes levied by both central and state governments. When you purchase petrol worth ₹100, approximately 40% to 45% of that amount goes to the central and state governments solely as taxes. Additionally, costs incurred by oil refineries, freight and transportation expenses, and local market conditions are among the other factors that determine fuel prices.
