Crude oil prices play a major role in determining the cost of petrol and diesel, as these fuels are derived from crude. Given that India is one of the largest importers of crude oil, the fuel prices here are closely tied to the exchange rate between the Indian rupee and the US dollar.
Oil Marketing Companies (OMCs) have released updated petrol and diesel prices across major Indian cities, maintaining consistency despite global market fluctuations. These prices, adjusted daily at 6 am, are based on changes in crude oil prices and foreign exchange rates, ensuring that consumers are informed about fuel costs in real time.
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As of October 14, 2024 here are the revised fuel rates:
Delhi: Petrol - Rs 94.72/litre, Diesel - Rs 87.62/litre
Mumbai: Petrol - Rs 103.44/litre, Diesel - Rs 89.97/litre
Bengaluru: Petrol - Rs 102.86/litre, Diesel - Rs 88.94/litre
Chennai: Petrol - Rs 100.75/litre, Diesel - Rs 92.56/litre
Kolkata: Petrol - Rs 104.95/litre, Diesel - Rs 91.76/litre
Hyderabad: Petrol - Rs 107.41/litre, Diesel - Rs 95.65/litre
Gurugram: Petrol - Rs 95.11/litre, Diesel - Rs 87.97/litre
Noida: Petrol - Rs 94.81/litre, Diesel - Rs 87.93/litre
Crude oil prices play a major role in determining the cost of petrol and diesel, as these fuels are derived from crude. Given that India is one of the largest importers of crude oil, the fuel prices here are closely tied to the exchange rate between the Indian rupee and the US dollar.
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Additionally, taxes imposed by both the central and state governments heavily impact the final fuel price, and these taxes vary from state to state.