Last update:October 26, 2024, 08:30 IST

Diesel price today in India. Check the city wise price table now

Gasoline and diesel prices on October 26

Petrol and diesel prices today, October 26, 2024: Every day at 6am, the Oil Marketing Companies (OMCs) update the prices of petrol and diesel, providing consistency despite the volatility of these commodities. These adjustments reflect changes in global crude oil prices and fluctuations in currency exchange rates, ensuring consumers remain informed of the latest fuel costs.

Petrol and diesel price today in India (see city rate table below)

Check petrol and diesel prices by city on October 26

In India, fuel prices have remained flat since May 2022 following a cut in fuel taxes by the central government and several states.

Retail fuel prices are adjusted by the WTO at 6 am daily based on the global price of crude oil. The government oversees fuel prices through excise duties, base prices and price caps.

Factors Affecting Petrol and Diesel Prices in India

In India, petrol and diesel prices are influenced by several factors, including transport charges, value added tax (VAT) and local taxes, leading to different rates in different states.

Crude oil price: The primary feedstock for the production of gasoline and diesel is crude oil; as such, its price directly influences the final cost of these fuels.

Indian Rupee to US Dollar Exchange Rate: As a major importer of crude oil, petrol and diesel prices in India are also influenced by the exchange rate between the Indian and US dollars.

Fee: Various taxes on petrol and diesel are imposed by both the central and state governments. These taxes can differ from one state to another, exerting a noticeable influence on the final prices of gasoline and diesel.

Refining cost:

The final price of gasoline and diesel is further influenced by the expenses incurred in refining the crude oil into these fuels. The refining process can be expensive, and refining expenses can fluctuate based on factors such as the type of crude oil used and refinery efficiency.

Gasoline and diesel demand: Demand for gasoline and diesel can also affect their prices. If demand for these fuels increases, this may lead to higher prices.