Daily Fuel Price Updates for Transparency
On December 22, 2024, oil marketing companies (OMCs) released the latest petrol and diesel prices across India. These updates, made daily at 6 AM, ensure that fuel rates remain aligned with global crude oil prices and currency exchange fluctuations.

Petrol and Diesel Prices in Major Indian Cities

Why Have Fuel Prices Been Stable Since May 2022?

India’s fuel prices have remained unchanged since May 2022, following significant tax reductions by the central and state governments. This step was taken to provide relief to consumers amidst rising global crude oil prices.

The government continues to regulate petrol and diesel costs through mechanisms such as:

• Excise Duties and VAT: Central and state taxes significantly affect fuel prices.
• Base Pricing and Price Caps: Controlled adjustments keep prices steady.

Key Factors Influencing Fuel Prices

1. Global Crude Oil Prices: Fluctuations in crude oil rates directly impact petrol and diesel prices in India.
2. Exchange Rate: The rupee-to-dollar value influences import costs, as India imports most of its crude oil.
3. Taxes: Excise duties and VAT vary by state, leading to regional price differences.
4. Transportation and Local Charges: Freight, municipal taxes, and state-specific levies contribute to fuel price variations.
5. Refining Costs: Crude oil refining costs depend on the quality of crude and refinery efficiency.
6. Demand for Fuel: Seasonal and regional demands can drive price changes.

Why Regular Updates Matter

Daily price updates provide consumers with transparency and help them plan better in a market influenced by both global trends and domestic regulations. Staying informed ensures you’re aware of fluctuations and can adjust your budget accordingly.