Fuel prices today: Petrol and diesel prices remain a top focus for most consumers and businesses in India as price adjustments are expected to impact commercial entities that rely heavily on the fuel for their operations.
Fuel prices in India are updated daily at 6:00 am. Since June 2017, fuel prices have been revised daily using the dynamic fuel price method. This approach updates oil prices daily to reflect current global oil rates and exchange rate fluctuations.
Retail buyers should note that fuel prices may vary from state to state, taking into account taxes, shipping costs and other related factors. It is noteworthy that the prices have not changed for several months.
Here’s how much petrol and diesel costs in Delhi, Kolkata, Mumbai and Chennai today, according to the latest data released by the Petroleum Planning and Analysis Cell, a government body that collects and analyzes data related to the oil and gas industry.
Fuel prices today
Fuel prices in Delhi on November 30
Gasoline price – ₹94.77
Diesel price – ₹87.67
Fuel prices in Mumbai on November 30
Gasoline price – ₹103.5
Diesel price – ₹90.03
Fuel prices in Kolkata on November 30
Gasoline price – ₹105.41
Diesel price – ₹92.02
Fuel prices in Chennai on November 30
Gasoline price – ₹110.8
Diesel price – ₹92.39
What factors affect fuel prices?
India imports more than 80% of its oil needs, so domestic fuel prices are largely determined by international prices. Other factors affecting domestic petrol and diesel prices include central excise duty, VAT (value added tax) levied by state governments, dealer and refiner margins and transportation costs. Currently, petrol and diesel are exempt from GST.
Since several factors affect fuel prices, no single reason can be responsible for any price changes. Price fluctuations are often caused by several factors combined.
Disclaimer: This story is for educational purposes only. The above opinions and recommendations are those of individual analysts or brokerage firms and not of Mint. We encourage investors to check with certified professionals before making any investment decision.
