Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On February 19 – News18
Petrol, Diesel Price Today: Check city-wise petrol and diesel prices on February 19 here
Crude oil prices in the global market have once again reached around $83. Meanwhile, there is a change in the prices of petrol and diesel released by government oil companies on Monday morning. This morning, oil prices came down in many cities of UP. However, there has been no change in oil prices in the four metros of the country like Delhi-Mumbai.
In India, the pricing of petrol and diesel is subject to influences like freight charges, value-added tax (VAT), and local taxes, resulting in different rates across states.
According to government oil companies, today petrol in Gautam Buddha Nagar became costlier by 6 paise to Rs 96.65 per litre. Here diesel also increased by 6 paise and is being sold at Rs 89.82 per litre. In Lucknow, the capital of UP, petrol has become cheaper by 27 paise to Rs 96.47 per liter and diesel has fallen by 27 paise to Rs 89.66 per litre. Apart from this, in Gurugram, Haryana, petrol became costlier by 7 paise and reached Rs 97.04 per litre, while diesel is being sold with an increase of 7 paise at Rs 89.91 per litre.
As of February 19, the price of petrol in Mumbai continued to exceed the Rs 100 mark, reaching Rs 106.31 per litre, while diesel was priced at Rs 94.27 per litre.
In India, fuel prices have remained steady since May 2022, following a reduction in fuel taxes by the central government and several states. Fuel retail prices are adjusted by OMCs daily at 6 am based on the global price of crude oil. The government oversees fuel prices through mechanisms such as excise tax, base pricing, and price caps.
The primary raw material for the production of petrol and diesel is crude oil, and as such, its price directly influences the ultimate cost of these fuels. As a major importer of crude oil, India’s petrol and diesel prices are also influenced by the exchange rate between the Indian rupee and the US dollar.
Various taxes on petrol and diesel are imposed by both the central and state governments. These taxes may differ across states, exerting a notable influence on the ultimate prices of petrol and diesel. The final price of petrol and diesel is additionally influenced by the expenses incurred in refining crude oil into these fuels. The refining process can be costly, and the refining expenses may fluctuate based on factors like the type of crude oil utilised and the efficiency of the refinery.
The demand for petrol and diesel can also affect their prices. If demand for these fuels increases, it can lead to higher prices.
