
Petrol, Diesel Prices Likely to be Slashed by Rs 4-5 Per Litre From August 2023, Here’s Why
Petrol, Diesel Prices Today: For months, petrol and diesel prices have remained stagnant with no change in the rates in all major cities. In good news for residents in Noida and Gurugram, petrol and diesel prices in the cities have been slashed. The petrol and diesel prices in Noida and Gurugram got cheaper after oil companies updated the rates.
With 27 paise cut, the revised petrol price in Noida stood at Rs 96.65 per litre while diesel was priced at Rs 89.82 per litre on Sunday. In Gurugram, one litre of petrol now costs Rs 96.84 while the diesel prices stood at Rs 89.72.
Besides Noida and Gurugram, the petrol and diesel prices in Gujarat’s Ahmedabad, , Bihar’s Patna, Rajasthan’s Ajmer and Jaipur also got cheaper.
To get the indicative prices of Petrol/Diesel in your city/town for the day, SMS ‘RSP <space> Dealer Code of Petrol Pump’ to 9224992249. For example, SMS ‘RSP 102072’ to 92249 92249 for petrol and diesel prices in Delhi. Click HERE to find your city’s RSP code.
Diesel accounts for about two-fifth of India’s overall refined fuel consumption. Diesel margins have declined substantially since rising to a record of over $71 a barrel in June after Russia invaded Ukraine, making a case for a cut in local prices. Price of fuel includes excise duty, value-added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher.
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