Petrol and diesel prices are an important issue in India, which not only affects the pockets of the common people, but also affect the economy. In recent times, it is important to know whether people have been relieved or not, which has given relief or not. In this article, we will discuss the new rates to be implemented from April 4 and see if there is really a decline.
Petrol and diesel prices are determined by government oil companies, which are Indian Oil, Bharat Petroleum, and Hindustan Petroleum. These companies review prices every morning at 6 am and make changes as required. This process is based on crude oil prices in the global market.
Petrol and diesel prices depend not only on the prices of crude oil, but also have an important part of taxes and duty. These taxes include excise duty and VAT, which are imposed by the state governments. Therefore, petrol and diesel prices may vary from one state to another.
Understand the prices of petrol and diesel
Several factors are involved in determining the prices of petrol and diesel. These include crude oil prices, exchange rates, excise duty, VAT, and dealer commissions. Let’s understand these factors in detail:
- Crude oil prices: They are fixed in the international market and are in dollars.
- Exchange Rate: It shows the price of the rupee against the dollar, which affects the prices of crude oil.
- Excise Duty: This is the tax levied by the central government.
- VAT: This is a tax levied by the state government, which varies according to the state.
- Dealer Commission: This is a commission given to petrol pump owners.
Description of petrol and diesel prices
The table below gives details of the prices of petrol and diesel in some major cities of India:
| City | Petrol price (₹/liter) | Diesel price (₹/liter) |
| Delhi | 95.41 | 86.67 |
| Kolkata | 104.67 | 89.79 |
| Mumbai | 109.98 | 94.14 |
| Chennai | 101.51 | 91.53 |
| Patna | 105.60 | 92.25 (approx) |
| Bengaluru | 100.72 (approx) | 90.40 (approx) |
| Hyderabad | 109.66 (approx) | 95.30 (approx) |
| Jaipur | 106.48 (approx) | 92.71 (approx) |
This table shows how petrol and diesel prices vary in different cities, mainly due to VAT and excise duty.
Due to change in petrol and diesel prices
Petrol and diesel prices change occur due to many reasons:
- Crude oil prices: Petrol and diesel prices are affected by rising or decreasing crude oil prices in the international market.
- Exchange Rate: Crude oil prices increase when the price of the rupee is weak against the dollar.
- Excise Duty and VAT: Prices are also affected by the government changing excise duty and VAT.
- Demand and Supply: Demand and supply status in the market also affects prices.
Petrol and diesel prices likely fall
The possibility of fall in the prices of petrol and diesel depends on many factors:
- Crude oil prices lose: If crude oil prices are low in the international market, then petrol and diesel prices may also decrease.
- Exchange rate improvement: If the rupee is stronger against the dollar, crude oil prices may be reduced.
- Government policies: Prices can also be reduced by the government cutting excise duty or VAT.
Impact of petrol and diesel prices
Petrol and diesel prices not only affect the pockets of common people, but also affect the whole economy:
- Inflation: Increased prices of petrol and diesel can increase inflation, as the cost of transport increases.
- Industry and Trade: High fuel prices can increase production costs for industries, making them increase the prices of their products.
- Agricultural sector: Fuel prices are also important in agriculture, as diesel is used for tractors and other machinery.
conclusion
Petrol and diesel prices are based on a complex process, which includes several factors. If crude oil prices are low or taxes are cut by the government, petrol and diesel prices may decrease. However, it is important to note that no specific decline has been announced from April 4, and prices remain stable.
