Petrol-Diesel Price Today: The price of crude oil continues to fluctuate in the international market. WTI crude oil is trading at $ 91.05 per barrel with a rise of 0.29 percent in the global market. In the commodity market, the price of Brent crude oil is at $ 92.23 per barrel with an increase of 0.15 percent. Experts are saying that this week the price of crude oil can reach a record rate of $ 93 per barrel. However, its impact is not visible much on the prices of petrol and diesel in India. On Monday morning, oil distributor companies have released new rates of fuel. The price of petrol is stable in many cities including the capital Delhi. Whereas, fuel prices have changed in other cities. Meanwhile, it is being told that there has been a rise in the prices of petrol and diesel in Uttar Pradesh. Along with this, the prices of petrol and diesel have also increased in Bihar’s capital Patna and Rajasthan’s Ajmer. In Patna, petrol has increased by 30 paise and is being sold at Rs 107.54 per liter and diesel has increased by 28 paise and is being sold at Rs 94.32 per litre. Whereas, in Ajmer the price of petrol has increased by 30 paise. Here petrol has increased by Rs 108.37 per liter and diesel has increased by 27 paise to Rs 93.62 per liter.
Price of petrol and diesel in other cities
City Petrol(Rs/Litre) Diesel(Rs/Litre)
New Delhi 96.72 89.62
Mumbai 106.31 94.27
Kolkata 106.03 92.76
Chennai 102.74 94.33
Noida 96.76 89.93
Varanasi 97.05 90.24
Prayagraj 96.66 89.86
Crude oil futures prices fall due to weak spot demand
Crude oil prices rose by Rs 3 to Rs 7,795 per barrel in futures trade on Friday as traders increased the size of their deals following strong spot demand. On the Multi Commodity Exchange, the contract of crude oil for delivery in October rose by Rs 3 or 0.04 percent to Rs 7,795 per barrel. It was traded for 10,595 lots. Market analysts said crude oil futures prices rose as traders increased the size of their deals. Globally, West Texas Intermediate crude oil rose 0.04 percent to $ 93.64 per barrel, while the price of Brent crude showed a rise of 0.21 percent. Was trading at $96.35 per barrel.
How to check the fuel rate of your city
To know the fuel rate of your city through message, BPCL customers will have to send the message RSP
How are the prices of petrol and diesel decided in India?
Petrol and diesel prices in India are decided by the government and it is a dynamic process that depends on various factors. Here are some of the main factors that influence this process:
International Market Prices: India does not have a reliable distribution network of petrol and diesel for the users. Therefore, despite the succession of prices of petrol and diesel in the world market, India is finally defined in quantity and distribution.
Taxes and Duties: Taxes and duties imposed by various states and union territories are included in determining the prices of petrol and diesel. This is usually subject to change based on various updated decisions.
Contribution of State Governments: State governments can also include their contribution to control the prices of petrol and diesel. They may impose various fees and taxes in their state.
Demand for Currency and Supply of Petroleum Products: The balance between demand for petroleum products and their supply can also affect prices. If demand for products is high and supply is low, prices may increase. If demand for products is low and supply is high, prices may decrease.
Export and Import Events: Various export and import events can also affect the prices of petrol and diesel. These events occur between different countries and producers and impact prices.