Petrol, and Diesel Prices On July 1, 2024: Oil marketing companies have announced updated petrol and diesel prices on Monday, July 1. The country’s Petrol and diesel prices depend on crude oil prices internationally. Fluctuations in crude oil prices lead to changes in fuel prices in India. Check the latest petrol, and diesel prices to know if there is an increase in the amount customers will have to shell out for a litre.
Government oil marketing companies release the latest petrol and diesel prices daily at 6 am in the country.
The prices have remained unchanged in most parts of the country since March 2024 when the central government cut petrol prices by Rs 2. Before that, the fuel prices remained steady since May 2022, following a reduction in fuel taxes by the central government and several states.
Companies like Hindustan Petroleum Corporation, and Indian Oil Corporation of India release the prices of petrol and diesel on their websites. Let us know the latest fuel prices.
Petrol Diesel Price Today In India (Check city-wise rate table below)
Check city-wise petrol and diesel prices on July 1;
Factors Affecting Petrol And Diesel Prices In India
Crude oil price: The primary raw material for the production of petrol and diesel is crude oil; as such, its price directly influences the ultimate cost of these fuels.
The exchange rate between the Indian rupee and the US dollar: As a major importer of crude oil, India’s petrol and diesel prices are also influenced by the exchange rate between the Indian and US dollar.
Tax: Various taxes on petrol and diesel are imposed by both the central and state governments. These taxes may differ across states, exerting a notable influence on the ultimate prices of petrol and diesel.
The cost of refining:
The final price of petrol and diesel is additionally influenced by the expenses incurred in refining crude oil into these fuels. The refining process can be costly, and the refining expenses may fluctuate based on factors like the type of crude oil utilised and the refinery’s efficiency.
The demand for petrol and diesel: The demand for petrol and diesel can also affect their prices. If demand for these fuels increases, it can lead to higher prices.
Know the price of petrol and diesel through SMS
You can also find out the latest petrol and diesel prices in your city through SMS. If you are a customer of Indian Oil, then you will have to write RSP along with the city code and send it to 9224992249. If you are a customer of BPCL, then you can get information about the new price of petrol and diesel by writing RSP and sending it to 9223112222. Whereas, if you are a customer of HPCL, then you can find out the price of petrol and diesel by writing HP Price and sending it to 9222201122.
Comments
0 comment