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Latest Petrol And Diesel Rates For August 1 Announced: Check Rates In Your City

August 1, 2024, 9:15 am

Oil marketing companies (OMCs) in India continue to announce fuel prices at 6 am daily, reflecting adjustments based on global crude oil prices and foreign exchange rate fluctuations. This practice ensures that consumers remain informed about the latest fuel costs.

The government-run OMCs have kept petrol and diesel prices stable in most parts of the country since March 2024, following a Rs 2 cut in petrol prices by the central government. Prior to this, fuel prices had remained unchanged since May 2022, due to reductions in fuel taxes by the central government and various states.

Petrol and Diesel Prices Across Major Cities

Here are the petrol and diesel prices for August 1, 2024, in major Indian cities:

City	Petrol Price (Rs/litre)	Diesel Price (Rs/litre)
Delhi	94.72	87.62
Mumbai	103.44	89.97
Chennai	100.85	92.44
Kolkata	103.94	90.76
Noida	94.66	87.76
Lucknow	94.65	87.76
Bengaluru	102.86	88.94
Hyderabad	107.41	95.65
Jaipur	104.88	90.36
Trivandrum	107.62	96.43
Bhubaneswar	101.06	92.91

Factors Influencing Fuel Prices

Crude Oil Price: The cost of crude oil, the primary raw material for petrol and diesel, directly impacts the prices of these fuels.
Exchange Rate: The value of the Indian rupee against the US dollar affects fuel prices, as India imports a significant amount of crude oil.
Taxes: Central and state government taxes on petrol and diesel vary across states, significantly influencing the final prices.
Refining Costs: The expenses involved in refining crude oil into petrol and diesel also play a role in determining the final prices. These costs can vary based on the type of crude oil used and the efficiency of the refinery.
Demand: The demand for petrol and diesel can lead to price fluctuations. Higher demand often results in higher prices.

Checking Fuel Prices via SMS

Consumers can easily check the latest petrol and diesel prices in their city via SMS:

Indian Oil: Text RSP followed by the city code to 9224992249.
BPCL: Text RSP to 9223112222.
HPCL: Text HP Price to 9222201122.

These mechanisms ensure that customers are always aware of the current fuel prices, helping them plan their expenses better.

Latest Petrol And Diesel Prices For July 2: Check Rates In Your City Here

July 2, 2024, 2:07 pm

Oil marketing companies in India have announced the latest petrol and diesel prices for Tuesday, July 2, 2024. The prices, which were last adjusted in March 2024 following a central government tax reduction, have largely remained unchanged since then. This stability comes despite fluctuations in international crude oil prices, which directly impact fuel costs in the country.

Here are the city-wise petrol and diesel prices as of July 2:

Delhi: Petrol Rs 94.72/litre, Diesel Rs 87.62/litre
Mumbai: Petrol Rs 103.44/litre, Diesel Rs 89.97/litre
Chennai: Petrol Rs 100.85/litre, Diesel Rs 92.44/litre
Kolkata: Petrol Rs 103.94/litre, Diesel Rs 90.76/litre
Noida: Petrol Rs 94.66/litre, Diesel Rs 87.76/litre
Lucknow: Petrol Rs 94.65/litre, Diesel Rs 87.76/litre
Bengaluru: Petrol Rs 102.86/litre, Diesel Rs 88.94/litre
Hyderabad: Petrol Rs 107.41/litre, Diesel Rs 95.65/litre
Jaipur: Petrol Rs 104.88/litre, Diesel Rs 90.36/litre
Trivandrum: Petrol Rs 107.62/litre, Diesel Rs 96.43/litre
Bhubaneswar: Petrol Rs 101.06/litre, Diesel Rs 92.91/litre

Factors influencing the prices include international crude oil rates, the exchange rate between the Indian rupee and US dollar, taxes imposed by central and state governments, refining costs, and demand fluctuations. Despite these variables, consumers have seen stable prices since earlier reductions in fuel taxes.

For those seeking real-time updates on the oil prices, oil marketing companies like Hindustan Petroleum Corporation, Indian Oil Corporation, and Bharat Petroleum Corporation provide information on their websites. Additionally, customers can use SMS services provided by these companies to receive updates on fuel prices in their respective cities.

Karnataka Govt Raises Petrol, Diesel Prices By Rs 3/Litre

June 15, 2024, 5:34 pm

The Karnataka government has announced an immediate hike in the prices of petrol and diesel starting from Saturday. This increase follows an official notification from the state government indicating a revision in the sales tax imposed on petroleum products.

As per the notification, the price of petrol in Bengaluru has risen by Rs 3 per litre, reaching Rs 102.84 from the previous rate of Rs 99.84. Similarly, the price of diesel has gone up by Rs 3.02 per litre, increasing from Rs 85.93 to Rs 88.95.

The Petroleum Dealers Association attributes this price hike to the state government’s decision to raise the sales tax on petrol from 25.92% to 29.84% and on diesel from 14.3% to 18.4%.

This significant tax increase directly impacts the retail prices of petrol and diesel statewide. The Finance Department of Karnataka aims to boost state revenue with this move. However, it is expected to have broader implications across sectors such as transportation and distribution, potentially leading to higher costs for consumers. The sudden implementation of these revised prices has taken many residents and businesses by surprise, raising concerns about its financial impact.

Petrol and Diesel Prices Reduced by Rs 2/Litre

March 15, 2024, 11:28 am

People across the country expressed happiness as petrol and diesel prices were slashed by Rs 2 per litre by the Centre government.

An auto driver in Chhatarpur, Madhya Pradesh, expressed joy over the reduction, saying, “I want to thank the Modi government for the reduction in fuel prices.”

“There is excitement among people, and people are rushing to petrol pumps,” said a petrol pump worker in Chhatarpur.

“In the Modi government, citizens get a lot of facilities like price reduction, we are happy,” said a resident in Chhatarpur.

In Siliguri, West Bengal, people lined up outside petrol stations after the government’s decision to reduce petrol and diesel prices.

A biker in Delhi commented, “It is good that the government has reduced the rates. People will benefit from it.”

Earlier, in a relief to people ahead of the Lok Sabha polls expected to be held in April-May, the government decided to cut the price of petrol and diesel by Rs 2 per litre.

The Ministry of Petroleum and Natural Gas said in a post on X that Oil Marketing Companies (OMCs) have informed that they have revised petrol and diesel prices across the country. New prices would be effective from March 15, 2024, 6 am.

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said in a post on X that by reducing prices of petrol and diesel by Rs 2 per litre, Prime Minister Narendra Modi “has again proved that the welfare and convenience of his family of crores of Indians has always been his aim”.

Ministry of Petroleum and Natural Gas said in its post that reduction in petrol and diesel prices will boost consumer spending “and reduce operating costs for over 58 lakh heavy goods vehicles running on diesel, 6 crore cars and 27 crore two-wheelers”.

It said reduced petrol and diesel prices will benefit the citizens through more disposable income, boost for tourism and travel industries and control over inflation.

The ministry said the decision will lead to increased consumer confidence and spending, reduced expenses for businesses dependent on transportation, enhanced profitability for logistics, manufacturing, and retail sectors and reduced outgo for farmers on tractor operations and pump sets.

After petrol, LPG price hikes in Pakistan

April 16, 2023, 4:24 pm

On Sunday, The Oil and Gas Regulatory Authority announced a hike in Liquefied Petroleum Gas prices in Pakistan, as per news reports.

The price of LPG was hiked, according to an OGRA notification, to 10 Pakistani Rupees per kilogramme. According to a news report, the new LPG price has been set at PKR 229 per kilogramme. According to the notification, a household LPG cylinder now costs PKR 120 more. According to the news report, the cost of the commercial cylinder has also gone up by PKR 450.

According to the news report on Sunday, Ishaq Dar, the finance minister of Pakistan, revealed that the federal government has decided to increase the price of petrol by PKR 10 per litre for the following 15 days.

While the prices of high-speed diesel and light diesel oil stayed unchanged, the cost of petrol jumped to (PKR) 282 per litre. According to the news source, the price of kerosene oil has also increased by (PKR) 5.78 per litre.
According to a statement from Pakistan’s Finance Division, the increase in petroleum product prices is due to “increased petroleum costs in the international market and currency rate variance.”

In the absence of higher social spending, the lower-middle-income poverty rate is expected to rise to 37.2 per cent in FY23. Considering poor households’ dependency on agriculture and small-scale manufacturing and construction activity, they remain vulnerable to economic and climate shocks.

Kerala Budget: Rs 2,000 Crore to Tackle Price Rise; fuel prices hiked by Rs 2 per litre

February 3, 2023, 2:29 pm

Kerala Finance Minister K N Balagopal presented the budget for the 20233-23 financial year in the legislative assembly on Friday.

State FM laid the state budget 2023 in the legislative assembly today and began his speech. This is the third budget by Balagopal. He said that the petrol, diesel prices will be increased by Rs 2 per litre in Kerala.

The minister announced that the state might experience a financial crunch this year as the Centre’s assistance to the state has been reduced.

The state government is having difficulties because of the financial policies of the federal government, but the finance minister reassured that Kerala is not in debt and that the state is in a position to take on further loans.

The KSRTC received Rs 3400 crore from the budget.

A specific budget for research and development is announced by the finance minister as part of the drive to build a knowledge economy.

Balagopal claimed that the State has been working to prevent youth migration to other nations and to keep them in the State.

“Young people going abroad for education and employment and settle abroad. This requires central expression schemes. The government spends Rs 50,000 per student per year. Second generation development activities require the State government will make youth to stay in the state by creating better living facilities and new job opportunities,” the minister said.

The state’s capital Thiruvananthapuram’s Technopark will have a digital science park set up by May, according to the finance minister, and work on an IT park in Kannur will start this year.

During the project’s duration, Rs 1000 crore will be allocated, according to the minister. The budget for next year has been set at Rs 100 crore.

In Kerala, a budget of Rs 133 crore and Rs 300 crore have been set aside for the construction of 1933 km of highways, respectively.

Rs 10 crore has been allocated for implementing work from home model in the tourism sector.

The minister stated that because there is such a high demand for nurses, nursing colleges will be established at Idukki and Wayanad medical schools as well as taluk hospitals and general hospitals throughout the State.

Colleges will start off in the first stage with connections to 25 hospitals, and Rs 20 crore has been made aside for this purpose. The minister claimed that Rs 1000 crore had been set aside for medical travel and for making Kerala the world’s medical centre.

Supply of fuel stopped in Meghalaya, CM Sangma says ‘no shortage of petrol and diesel’

November 25, 2022, 2:41 pm

Amid a border dispute, Assam Petroleum Mazdoor Union ordered to stop of fuel transportation to Meghalaya after which Chief Minister Conrad Sangma said in the state there is no shortage of petrol and diesel.

Meanwhile, necessary action has been initiated by the Sangma government to ensure no shortage of stock and supply and also urged people to not resort to panic.

Taking to Twitter Sangma said, “There is no shortage of petrol and diesel in Meghalaya. Necessary actions have been initiated by the Government to ensure no shortage of stocks and supply. Request all citizens to not resort to panic buying of any essentials.”

Due to a firing incident between the two states, Assam Petroleum Mazdoor Union stopped the transportation of fuel to Meghalaya on Friday.

Moreover, informing about the decision Union sent letters to PSU oil marketing companies to not load fuel onto tankers.

“It has been brought to our notice that in Meghalaya mainly Ri-Bhoi, Khasi Hills, and Jaintia Hills districts the situation remains abnormal. Our members are afraid to go to the above-mentioned area for supplying petroleum products,” Assam Petroleum Mazdoor Union said in the letter.

The letter added, “Therefore we have decided not to take any load from today onwards until and unless the Government of Meghalaya assures them of the safety and security of T/T (tank trucks) crews.”

Earlier on Tuesday, six persons including five from Meghalaya and one from Assam Forest Guard were killed along the Assam-Meghalaya border.

However, FIR has been filed by Meghalaya Police in the incident.

BY 2030, India will produce 25 pc of its oil needs: Hardeep Puri

October 14, 2022, 7:08 pm

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Friday announced that the Indian petroleum indutsry is flourishing and will be able to produce 25 per cent of its crude oil demand by 2030.

The Minister stated that India currently consumes five million barrels of petroleum per day, and that consumption is also rising by 3%, which is higher than the global average of 1%. The Minister was speaking at the three-day South Asian Geoscience Conference Geo India 2022, which started on Friday in Jaipur, Rajasthan. The amount of ethanol blend in gasoline has climbed from 0.67 percent in 2013 to 10 percent in May 2022, five months ahead of plan, the Minister stated during the opening session.
“It is helping the environment by lowering 2.7 million tonnes of CO2 emissions.

The International Energy Agency (IEA) predicts that India will account for 25% of the increase in world energy demand over the next twenty years. By 2050, BP predicts that India’s energy demand will quadruple, while the country’s need for natural gas is anticipated to increase fivefold.
At the ceremony, Pankaj Jain, the secretary for petroleum, advised the geology specialists to take advantage of the chance to elevate their contribution in light of the growing demand and limited supply of energy sources.

He urged the geoscientific community to provide specialised expertise for deep, ultra-deep, and onshore waters in order to increase oil and gas production in a way that is environmentally sustainable.
Rajesh Kumar Srivastava, CMD of Oil and Natural Gas Corporation Limited (ONGC) and Chief Patron of APG, welcomed the dignitaries and attendees earlier and stated, “Geo India has been a key leader in the last 14 years under the auspices of Association of Petroleum Geologists (APG) India. The extent and level of foreign involvement in the biennial South Asian Geology Conference and Exhibition have changed. By 2030, it is expected that the value of automation technologies used in the oil and gas industry will have nearly doubled, reaching USD 42 billion.
It is high time that the oil and gas sector take advantage of the digital transformation.”

Today’s Petrol and Diesel Prices, October 7

October 7, 2022, 11:53 am

Petrol and diesel prices in several Indian cities remained unchanged for the 139th consecutive day. According to the most recent oil company price announcements, fuel was the most expensive in Rajasthan’s Sriganganagar, while petrol and diesel were the cheapest in Andaman and Nicobar Island capital Port Blair.

On Friday, the price of crude oil was $90 per barrel, while Brent Crude and WTI were $94.58 and $88.68, respectively.

In Sriganganagar, petrol costs 113.49 rupees per litre, while diesel costs 98.24 rupees per litre. In Delhi, a litre of petrol costs 96.72 rupees, while a litre of diesel costs 89.62 rupees. Petrol and diesel, on the other hand, were priced at 84.1 and 79.74 cents per litre, respectively. Petrol costs 106.31 rupees per litre in India’s financial capital Mumbai, while diesel costs 94.27 rupees per litre.

Petrol price cut in Maharashtra by Rs 5; Diesel price cut too

July 14, 2022, 5:24 pm

Maharashtra Chief Minister Eknath Shinde on Thursday has decided to give significant relief to the state’s people, in the increasing inflation. After discussion with the officials, Chief Minister Eknath Shinde has decided to reduce petrol by Rs 5 per litre and diesel by Rs 3 per litre.

Taking to Twitter, Shinde tweeted, “A decision to reduce VAT on fuel will be taken soon to provide relief to the people of the state.”

After this decision, Deputy CM Devendra Fadnavis also tweeted, “Great relief to Maharashtrian and Marathi Manus! Happy to announce that the new government under CM Eknathrao Shinde has decided to reduce Petrol and Diesel prices by Rs 5/litre and Rs 3/litre, respectively.”

In 2021-22, the Maharashtra government earned Rs 34,002 crore through VAT. On the other hand, Uttar Pradesh has earned Rs 26,333 crore.

Earlier in May, the Maharashtra government had cut petrol and diesel prices. The government had cut VAT on petrol by Rs 2.08 per litre and diesel by Rs 1.44 per litre.

Meanwhile, Telangana collects the highest amount of VAT from petrol and diesel. In Telangana, 35.20% tax is charged on petrol and 27% on diesel. In Rajasthan, 31.02% VAT is charged on petrol and 19.30% on diesel.

However, the rising prices of petrol and diesel are determined keeping in mind the price of crude oil in the international market, exchange rate, tax, transportation cost of petrol-diesel and many other things. Therefore, daily, the oil companies determine the prices.