(*2*)Fuel charges in India: Petrol and diesel costs in the present day on February 2. (Representative picture)
On February 2, the worth of petrol in Mumbai remained above the Rs 100 mark
Petrol, Diesel Prices Today On February 2, 2024: Every morning at 6 am, the costs of petrol and diesel are revealed, no matter whether or not they’re present process fluctuations or remaining secure. This every day prevalence is pushed by oil advertising firms (OMCs) adjusting costs primarily based on worldwide crude oil costs and international trade charges.
Petrol Diesel Price News Today
Delhi Petrol & Diesel Price
As of February 2, the price of petrol in Delhi is Rs 96.72 per litre, and diesel is priced at Rs 89.62 per litre.
Mumbai Petrol & Diesel Price
On February 2, the worth of petrol in Mumbai remained above the Rs 100 mark, standing at Rs 106.31 per litre, whereas diesel was accessible at Rs 94.27 per litre.
Check metropolis-smart petrol and diesel costs on February 2:
| City | Petrol Price (Rs/litre) | Diesel Price (Rs/litre) |
| Chennai | 102.63 | 94.24 |
| Kolkata | 106.03 | 92.76 |
| Noida | 96.79 | 89.96 |
| Lucknow | 96.57 | 89.76 |
| Bengaluru | 101.94 | 87.89 |
| Hyderabad | 109.80 | 97.82 |
| Jaipur | 108.48 | 93.72 |
| Trivandrum | 109.73 | 98.53 |
| Bhubaneswar | 103.19 | 94.76 |
In India, the pricing of petrol and diesel is influenced by elements similar to freight costs, worth-added tax (VAT), and native taxes, resulting in various charges from state to state.
The gas charges have remained unchanged since May 2022, when the central authorities and several other states lower gas taxes.
OMCs change gas retail costs on daily basis at 6 am by the worth of crude oil all through the world. Through excise tax, base pricing, and worth caps, the federal government controls gas costs.
Factors Affecting Petrol And Diesel Prices In IndiaÂ
Crude oil worth:Â Crude oil is the principle uncooked materials used to provide petrol and diesel, so its worth has a direct impression on the ultimate value of those fuels.
The trade charge between the Indian rupee and the US greenback:Â India imports most of its crude oil, so the trade charge between the Indian rupee and the US greenback additionally impacts the worth of petrol and diesel.
Tax: The central and state governments levy a number of taxes on petrol and diesel. These taxes can range from state to state, and so they can have a major impression on the ultimate worth of petrol and diesel.
The value of refining: The value of refining crude oil into petrol and diesel additionally impacts the ultimate worth of those fuels. The refining course of will be costly, and the price of refining can range relying on a number of elements, similar to the kind of crude oil used and the effectivity of the refinery.
The demand for petrol and diesel:Â The demand for petrol and diesel can even have an effect on their costs. If demand for these fuels will increase, it may well result in increased costs.
