Petrol Diesel Price 21 Oct: New petrol and diesel prices are released every day at 6 am in India. Oil companies (OMCs) update prices based on international crude oil prices and the dollar-rupee exchange rate. This ensures consumers receive daily updates on the latest rates. Changes in petrol, diesel, and CNG rates have been recorded since Diwali. Let’s take a closer look at today’s prices in major cities.
Petrol Diesel Price 21 Oct: Petrol and diesel prices in major cities of the country
CNG Rate Today: What are the prices of CNG today?
Petrol Diesel Rate: How are fuel prices decided in India?
Petrol and diesel prices in India are not uniform across the country. There are several reasons for this, which are explained below
1. Taxes and local charges
Petrol and diesel are taxed differently by the central and state governments. VAT and other levies vary by state, leading to price variations.
2. Global crude oil prices
Petrol and diesel are made from crude oil. If crude oil becomes more expensive in the international market, fuel also becomes more expensive in India.
3. Dollar and Rupee exchange rate
India imports crude oil and pays for it in dollars. If the rupee weakens against the dollar, it becomes more expensive to buy oil, causing prices to rise.
4. Demand and supply
If the demand for petrol and diesel increases in the country, prices also increase. However, if the demand decreases, prices may fall.
5. Refining cost
The process of converting crude oil into petrol and diesel is quite expensive, and this cost also adds to the final price.
Read More: Petrol Diesel Rate 15 Oct: Know today’s price in major cities
