पेट्रोल, डीजल की नई कीमतें घोषित: 06 जुलाई को अपने शहर में दरें देखें।

Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On July 06.

Petrol and Diesel Prices for July 06, 2024

Oil marketing companies (OMCs) announce daily gasoline and diesel prices at 6 a.m., maintaining consistency amid the volatile nature of these commodities. These prices are adjusted based on global crude oil rates and fluctuations in foreign exchange rates, ensuring that consumers are always informed about the latest fuel costs.

In India, petrol and diesel prices are influenced by multiple factors, such as freight charges, value-added tax (VAT), and local taxes, leading to varying rates across different states. Fuel prices have remained steady since May 2022 due to reductions in fuel taxes by the central government and several states.

Fuel retail prices are adjusted daily by OMCs at 6 a.m. based on the global price of crude oil. The government regulates fuel prices through excise taxes, base pricing, and price caps. Here are the key factors affecting petrol and diesel prices in India:

• Crude oil price: As the primary raw material, the price of crude oil directly impacts the cost of petrol and diesel.
• Exchange rate: The exchange rate between the Indian rupee and the US dollar also affects fuel prices, as India is a major importer of crude oil.
• Taxes: Central and state government taxes vary across states and significantly influence the final prices of petrol and diesel.
• Refining costs: The cost of refining crude oil into petrol and diesel, which can fluctuate based on the type of crude oil used and the efficiency of the refinery.
• Demand: Increased demand for petrol and diesel can lead to higher prices.

By understanding these factors, consumers can better comprehend the dynamics behind fuel pricing in India.

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