Petrol-Diesel Price: Crude oil prices in the international market (Crude Oil PriceThe fire in ) has now stopped. After crossing the price of $90 per barrel, the price of crude oil has now fallen sharply. WTI Crude is being sold at $82.79 per barrel. Whereas, Brent crude is $ 85.58 per barrel. The fall in prices is going to have a big impact on the global market. Meanwhile, on Sunday morning, oil distributor companies have released today’s prices of petrol and diesel. The fall in the price of crude oil in the international market has not seen any significant impact in the market. Oil companies have not made any changes at the national level. However, there have been slight fluctuations in the prices of petrol and diesel in some cities of the country. The prices of petrol and diesel are stable in the four metropolitan cities of the country, Delhi, Mumbai, Chennai and Kolkata. In the capital Delhi, petrol is being sold at Rs 96.72 and diesel at Rs 89.62 per liter. Whereas, in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per liter since this morning. At the same time, in Chennai petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per liter, while in Kolkata petrol is being sold at Rs 106.03 and diesel at Rs 92.76 per liter.
Petrol and diesel prices in other cities
City Petrol(Rs/Litre) Diesel(Rs/Litre)
Noida 97.00 90.14
Gurugram 96.94 89.82
Bengaluru 101.94 87.89
Chandigarh 96.20 84.26
Jaipur 108.48 93.72
Patna 107.24 94.04
Lucknow 96.58 89.77
Crude oil futures prices fall due to weak spot demand
Crude oil prices fell by 0.19 percent to Rs 6,907 per barrel in futures trade on Friday as traders cut their deals following weak spot demand. On the Multi Commodity Exchange, the contract of crude oil for delivery in October fell by Rs 13 or 0.19 percent to Rs 6,907 per barrel. It was traded for 12,195 lots. Globally, West Texas Intermediate crude oil fell 0.39 percent to $ 82.63 per barrel, while the price of Brent crude was trading at $ 84.26 per barrel, showing a decline of 0.23 percent.
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 duties 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.