Petrol-Diesel Price Today: Crude oil prices continue to fall in the global market. A slight jump in prices was seen at 7.45 am on Friday. The price of WTI Crude Oil has increased by 1.27 percent and is being sold at $ 70.27 per barrel. Whereas, the price of Brent Crude Oil is trading at $ 75.03 per barrel with an increase of 1.23 percent. Meanwhile, Indian oil distribution companies have released the rates of petrol and diesel for today. Oil companies have not made any change in the oil prices at the national level. However, due to VAT tax, changes are being seen in the prices of petrol and diesel in many states. The prices of petrol and diesel are stable in the capital Delhi. Here petrol is being sold at the rate of Rs 96.72 and diesel at Rs 90.08 per litre. Whereas, in Mumbai petrol is being sold at Rs 106.31 and diesel at Rs 94.27, in Kolkata petrol at Rs 106.03 and diesel at Rs 92.76 per liter and in Chennai petrol at Rs 102.74 and diesel at Rs 94.33 per liter. Apart from this, changes in oil prices have been seen in some cities.
Prices changed in other cities
The price of petrol and diesel remains stable in Patna, the capital of Bihar. Here the price of petrol remains at Rs 107.24 per liter and diesel at Rs 94.03 per liter. Whereas, in Uttar Pradesh, the price of petrol is being sold at Rs 96.38 a liter after a fall of 39 paise and diesel is being sold at Rs 89.55 a liter after a fall of 38 paise. A decline of 48 paise has been seen in the prices of petrol in Punjab. Here petrol is being sold cheaper by Rs 98.23 per liter and diesel by 49 paise at Rs 88.55 per litre. In Jharkhand too, the rates of petrol and diesel have come down today. Here the price of petrol has reduced by 36 paise and is being sold at Rs 100.07 per liter and the price of diesel has reduced by 35 paise and is being sold at Rs 94.87 per litre. Whereas, the prices of petrol and diesel have increased again in Maharashtra today. Here diesel has become costlier by 66 paise and is being sold at Rs 93.46 per liter and petrol has become costlier by 69 paise and is being sold at Rs 106.96 per litre. Apart from this, the prices of petrol and diesel have increased in Andhra Pradesh, Chhattisgarh, Himachal Pradesh and Jammu and Kashmir.
Crude oil futures prices rise due to strong spot demand
Crude oil prices rose by Rs 16 to Rs 5,836 per barrel in futures trade on Thursday 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 December rose by Rs 16 or 0.27 percent to Rs 5,836 per barrel. It was traded for 18.679 lots. Market analysts said crude oil futures prices rose as traders increased the size of their deals. Globally, West Texas Intermediate crude oil rose 0.43 percent to $ 69.68 per barrel, while the price of Brent crude rose 0.48 percent to $ 74.66. Was trading at 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:
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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.
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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.
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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.
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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.
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Export and Import Events: Various export and import events can also affect the prices of petrol and diesel.