Fuel Price Alert: Find Out The Fresh Petrol And Diesel Rates For March 18
Petrol and Diesel Prices Cut on March 18, 2024: On March 18, government oil companies disclosed the latest prices for petrol and diesel. In the global market, as of 6 am on Monday, WTI crude is trading at $81.03 per barrel, registering a slight decrease of 0.01%. Similarly, Brent crude is priced at $85.29 per barrel, indicating a decline of 0.06%. Notably, oil companies reduced petrol and diesel prices by Rs 2 from March 15 onwards. Additionally, petrol and diesel rates in Lakshadweep have been reduced by Rs 15. In India, updated fuel rates are unveiled every morning at 6 am. Keep an eye out for updates on petrol and diesel prices.
In India, the pricing of petrol and diesel is influenced by factors like freight charges, value-added tax (VAT), and local taxes, resulting in variations in rates across states.
Petrol Diesel Price Today Rate Changes
| City | Diesel (in liter) | Petrol (in liter) |
|---|---|---|
| Noida | Rs 87.96 | Rs 94.83 |
| Gurugram | Rs 88.05 | Rs 95.19? |
| Bengaluru | Rs 85.93 | Rs 99.84 |
| Chandigarh | Rs 82.40 | Rs 94.24 |
| Hyderabad | Rs 95.65 | Rs 107.41 |
| Jaipur | Rs 90.36 | Rs 104.88 |
| Patna | Rs 92.04 | Rs 105.18 |
| Lucknow | Rs 87.76 | Rs 94.65 |
Petrol-diesel prices in metro cities
Following this reduction, the price of petrol in the national capital (Petrol Price Today in Delhi) now stands at Rs 94.72 per liter, down from Rs 96.72 per liter previously. Meanwhile, diesel (Diesel Price In Delhi) is priced at Rs 87.62 per liter, compared to the earlier rate of Rs 89.62 per liter. Presently, petrol costs Rs 104.21 per liter in Mumbai, Rs 103.94 in Kolkata, and Rs 100.75 per liter in Chennai. On the other hand, diesel is priced at Rs 92.15 per liter in Mumbai, Rs 90.76 in Kolkata, and Rs 92.34 per liter in Chennai.
Factors Influencing Petrol and Diesel Prices in India?
Crude oil price: The primary raw material for producing petrol and diesel is crude oil, and consequently, its price directly impacts the eventual cost of these fuels.
Exchange rate between the Indian rupee and the US dollar: Being a major importer of crude oil, India's petrol and diesel prices are influenced by the exchange rate between the Indian rupee and the US dollar.
Tax: Both central and state governments levy various taxes on petrol and diesel, which may vary across states, significantly affecting the final prices of these fuels.
Refining costs: The ultimate price of petrol and diesel is further influenced by the expenses associated with refining crude oil into these fuels. Refining processes can be expensive, and refining costs may fluctuate depending on factors such as the type of crude oil used and the efficiency of the refinery.
Demand for petrol and diesel: Prices of petrol and diesel can also be impacted by changes in demand. Higher demand for these fuels often leads to increased prices.
