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Sunday, April 14, 2024

New Prices for Gas and Diesel Announced: Check Rates for Your City on March 4

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<p>On March 4, 2024, the global crude oil market witnessed a surge in prices. At approximately 6 am on Monday morning, the WTI crude is fetching $80.19 per barrel, while concurrently, Brent crude is trading at $83.83 per barrel. In our nation, oil marketing companies have disclosed the latest rates for gasoline and diesel, a daily revision occurring at 6 am since June 2017.</p>
<p><img decoding=”async” class=”alignnone wp-image-470965″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/jpg-2-2024-02-c05685af5b7ae38714c7b03c1c3e1aa2-3x2_11zon.jpg” alt=”” width=”962″ height=”641″ /></p>
<p>In India, the pricing of petrol and diesel is influenced by factors such as freight charges, value-added tax (VAT), and local taxes, leading to varied rates among states.</p>
<p><strong>Changes in Petrol and Diesel Prices Today</strong></p>
<p>In Maharashtra, the cost of petrol rises by 96 paise, and diesel sees an uptick of 92 paise. Uttar Pradesh witnesses a surge of 67 paise in petrol prices and 65 paise in diesel prices. Meanwhile, Rajasthan, Madhya Pradesh, Chhattisgarh, and Himachal Pradesh experienced an increase in both petrol and diesel rates. Conversely, Bihar witnessed a reduction of 28 paise in petrol prices and 26 paise in diesel prices. A decline is observed in Andhra Pradesh, Telangana, Tamil Nadu, and Odisha.</p>
<p><strong>Petrol and Diesel Prices Today in India (Refer to the city-wise rate list below)</strong></p>
<p><strong>Mumbai Petrol & Diesel Prices</strong></p>
<p>As of March 4, the petrol price in Mumbai continues to surpass the Rs 100 mark, standing at Rs 106.31 per litre, whereas diesel is priced at Rs 94.27 per litre.</p>
<p><strong>Delhi Diesel Price Today</strong></p>
<p>As of March 4, the cost of diesel is fixed at Rs 89.62 per litre.</p>
<p><strong>Delhi Petrol Price Today</strong></p>
<p>As of March 4, the cost of petrol in Delhi is Rs 96.72 per litre.</p>
<p>Examine city-wise petrol and diesel prices on March 4:</p>
<p>Chennai 102.63 94.24</p>
<p>Kolkata 106.03 92.76</p>
<p>Noida 96.79 89.96</p>
<p>Lucknow 96.57 89.76</p>
<p>Bengaluru 101.94 87.89</p>
<p>Hyderabad 109.66 97.82</p>
<p>Jaipur 108.48 93.72</p>
<p>Trivandrum 109.73 98.53</p>
<p>Bhubaneswar 103.19 94.75</p>
<p>Fuel prices in India have maintained stability since May 2022, following a reduction in fuel taxes by both the central government and several states.</p>
<p>Fuel retail prices, adjusted daily at 6 am by OMCs, are based on the global crude oil price. The government oversees fuel prices through mechanisms such as excise taxes, base pricing, and price caps.</p>
<p><strong>Factors Influencing Petrol And Diesel Prices In India</strong></p>
<p><strong>Crude oil price:</strong> The essential raw material for petrol and diesel production, crude oil’s price directly impacts the ultimate cost of these fuels.</p>
<p><strong>The exchange rate between the Indian rupee and the US dollar is:</strong> Given India’s significant crude oil importation, petrol and diesel prices are influenced by the exchange rate between the Indian rupee and the US dollar.</p>
<p><strong>Tax:</strong> Both central and state governments impose various taxes on petrol and diesel, with variations across states significantly affecting their ultimate prices.</p>
<p><strong>Cost of refining:</strong></p>
<p>The final price of gasoline and diesel is also influenced by the expenses incurred during the refining process, which can fluctuate based on factors like the type of crude oil used and the efficiency of the refinery.</p>
<p><strong>Demand for petrol and diesel:</strong> Prices of these fuels can be affected by changes in demand; an increase in demand often leads to higher prices.</p>

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