Petroleum companies have announced fresh prices for petrol and diesel nationwide. These updated fuel prices are unveiled daily at 6:00 AM across the country. Additionally, on April 29, oil companies have ensured the latest fuel prices are duly updated.
In Mumbai, the price of petrol remained above the Rs 100 mark as of April 29, standing at Rs 104.21 per litre, while diesel was priced at Rs 92.15 per litre.
Meanwhile, in Delhi, the current price of diesel is Rs 87.62 per litre, while petrol is priced at Rs 94.72 per litre as of April 29.
Factors Impacting Petrol and Diesel Prices in India
1. Crude oil price: The primary ingredient for manufacturing petrol and diesel, crude oil’s price directly impacts the final cost of these fuels.
2. Exchange rate between the Indian rupee and the US dollar: Given India’s significant reliance on crude oil imports, fluctuations in the exchange rate between the Indian rupee and the US dollar also play a crucial role in determining petrol and diesel prices.
3. Taxation: Both central and state governments levy various taxes on petrol and diesel. These tax rates may vary across states, thereby exerting a significant influence on the overall prices of petrol and diesel.
