Petrol and diesel prices were revised at 6 AM today across various cities in India as part of the daily fuel price update system. Oil marketing companies determine fuel rates based on global crude oil trends and the exchange rate of the Indian rupee against the US dollar. As a result, daily fluctuations are common. While prices remained unchanged in several cities today, differences in state-specific taxes have led to variation in retail fuel rates across locations.

Fuel prices remain stable in major metropolitan areas

Today, there were no significant changes in fuel prices in major metropolitan cities such as Delhi, Mumbai, Kolkata, and Chennai. In Delhi, petrol continues to retail at Rs 96.72 per litre, and diesel at Rs 89.62 per litre. Mumbai recorded petrol at Rs 106.31 per litre, while diesel was priced at Rs 94.27 per litre. In Kolkata, the prices stood at Rs 106.03 for petrol and Rs 92.76 for diesel. Chennai saw petrol being sold at Rs 102.63 per litre and diesel at Rs 94.24 per litre.

State-level taxes cause regional price variations

The variation in fuel prices across Indian cities can be attributed primarily to the different tax structures imposed by state governments. While base prices of petrol and diesel are uniform, Value Added Tax (VAT), transportation costs, and local levies result in varying final prices for consumers. For example, fuel tends to be more expensive in states with higher VAT rates, whereas states with lower taxes see more affordable prices at the pump.

Global oil prices and currency exchange remain key influencers

International crude oil prices and currency exchange rates continue to play a key role in determining petrol and diesel prices in India. Any fluctuation in the price of crude oil in the international market impacts domestic fuel prices. Similarly, variation in the value of the Indian rupee against the US dollar affects the cost of oil imports, subsequently influencing retail fuel prices.

Fuel price updates monitored through dynamic pricing system

India follows a dynamic pricing mechanism where petrol and diesel prices are revised daily based on international oil prices and currency market developments. These changes are implemented by oil marketing companies and updated every day at 6 AM. Consumers are advised to stay informed through official channels or local fuel stations to know the latest rates applicable in their cities.

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