Petrol, Diesel Costs Lower As we speak On March 15, 2024: In an enormous reduction to frequent folks, the Central authorities has slashed petrol, and diesel costs throughout the nation forward of the Lok Sabha Elections 2024. The Union Ministry of Petroleum and Pure Fuel introduced the worth lower choice on March 14 through social media platform X (previously generally known as Twitter). It mentioned that OMCs have knowledgeable the ministry of the revision in costs throughout the nation.
That is the primary time since Might 2022 that petrol and diesel costs have been diminished within the nation. In the meantime, oil advertising firms within the nation have launched the most recent charges for petrol and diesel. In India, gas costs are revised each morning at 6 am. Earlier than June 2017, worth revision was achieved each 15 days.
In India, the pricing of petrol and diesel is topic to influences like freight costs, value-added tax (VAT), and native taxes, leading to completely different charges throughout states.
Petrol Diesel Value As we speak Charge Adjustments
In Maharashtra, the worth of petrol has fallen by 42 paise and that of diesel by 40 paise. Petrol and diesel have develop into cheaper by 21 paise in Uttar Pradesh. As we speak petrol and diesel have develop into cheaper by 17 paise in Rajasthan. In Bihar, the worth of petrol and diesel has elevated by 19 paise and 18 paise respectively. In Madhya Pradesh, petrol grew to become costlier by 11 paise and diesel by 10 paise on Thursday. Aside from this, petrol has develop into cheaper by 50 paise and diesel by 49 paise in Chhattisgarh. The charges of petrol and diesel have been diminished in Himachal Pradesh. On the identical time, the costs of petrol and diesel have additionally elevated in Andhra Pradesh.
Petrol Diesel Value As we speak In India (Verify city-wise charge checklist under)
Petrol-Diesel costs in metros (Petrol Diesel Costs)
After this lower, the worth of petrol within the nationwide capital (Petrol Value As we speak in Delhi) is now Rs 94.72 per liter, which was earlier Rs 96.72 per liter. Whereas diesel (Diesel Value In Delhi) is Rs 87.62 per liter, which was earlier Rs 89.62 per liter. As we speak petrol has develop into Rs 104.21 per liter in Mumbai, Rs 103.94 in Kolkata and Rs 100.75 per liter in Chennai. Whereas the worth of diesel has develop into Rs 92.15 per liter in Mumbai, Rs 90.76 in Kolkata and Rs 92.34 per liter in Chennai.
Rajasthan Govt Reduces VAT
On Thursday, Rajasthan Chief Minister Bhajan Lal Sharma additionally introduced a 2% discount within the VAT charge on petrol and diesel within the state, ranging from Friday. Sharma acknowledged that this VAT lower would supply reduction starting from Rs 1.40 to Rs 5.30 on petrol and from Rs 1.34 to Rs 4.85 on diesel for patrons. At present, the Rajasthan authorities imposes a VAT of 31.04% on petrol and 19.30% on diesel
Verify city-wise petrol and diesel costs on March 15:
| Metropolis | Petrol Value (Rs/litre) | Diesel Value (Rs/litre) |
| Chennai | 100.75 | 92.24 |
| Kolkata | 103.94 | 90.76 |
| Noida | 94.79 | 87.96 |
| Lucknow | 94.57 | 87.76 |
| Bengaluru | 99.94 | 85.89 |
| Hyderabad | 107.66 | 95.82 |
| Jaipur | 106.48 | 91.72 |
| Trivandrum | 107.73 | 96.53 |
| Bhubaneswar | 101.19 | 92.75 |
In India, gas costs have remained regular since Might 2022, following a discount in gas taxes by the central authorities and a number of other states.
Gas retail costs are adjusted by OMCs every day at 6 am primarily based on the worldwide worth of crude oil. The federal government oversees gas costs via mechanisms corresponding to excise tax, base pricing, and worth caps.
Components Affecting Petrol And Diesel Costs In India
Crude oil worth: The first uncooked materials for the manufacturing of petrol and diesel is crude oil, and as such, its worth immediately influences the last word value of those fuels.
The alternate charge between the Indian rupee and the US greenback: As a serious importer of crude oil, India’s petrol and diesel costs are additionally influenced by the alternate charge between the Indian rupee and the US greenback.
Tax: Varied taxes on petrol and diesel are imposed by each the central and state governments. These taxes might differ throughout states, exerting a notable affect on the last word costs of petrol and diesel.
The price of refining:
The ultimate worth of petrol and diesel is moreover influenced by the bills incurred in refining crude oil into these fuels. The refining course of could be expensive, and the refining bills might fluctuate primarily based on elements like the kind of crude oil utilised and the effectivity of the refinery.
The demand for petrol and diesel: The demand for petrol and diesel can even have an effect on their costs. If demand for these fuels will increase, it may result in greater costs.
