Petrol, and Diesel Prices Today: Petrol and diesel prices were unchanged on Wednesday, 3 May across New Delhi, Kolkata, Mumbai, and Bengaluru. Petrol rates and diesel rates have been steady over the last eleven months.
At present, petrol in Delhi is being sold at Rs 96.72 a liter while diesel is being sold at Rs 89.62 a litre. Whereas in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. While petrol in Kolkata is Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per liter in Chennai.
However, in states like Maharashtra and West Bengal, fuel prices showed a decline. Petrol has become cheaper by 41 paise and diesel by 39 paise in Maharashtra. In Punjab too, petrol has become cheaper by 26 paise and diesel by 25 paise. There is a drop of 25 paise in the price of petrol and diesel in Uttar Pradesh. Petrol has become cheaper by 44 paise and diesel by 41 paise in West Bengal.
Except for individual cases, petrol and diesel rates across the country have been steady since May 21 last year, when the previous pan-India revision was announced. However, many cities saw petrol prices above Rs 100 mark.
In India, oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum determine petrol and diesel prices. This is done on a daily basis, and rates are determined in accordance with the price of crude oil throughout the world.
Why do fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day. These, however, vary from state to state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes, etc.
Petrol, and Diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, and Gurugram on May 3, 2023
This is how you can know today’s latest price
You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get information by sending RSP and their city code to 9224992249 and BPCL customers can get information by sending an SMS to 9223112222 by typing RSP and their city code. Whereas, HPCL consumers can know the price by sending HPPrice and their city code to 9222201122.
Crude Oil Prices Today
Oil prices extended losses on Wednesday, after slumping about 5% to a five-week low in the previous session, as investors braced for more rate hikes this week that could dent energy demand.
Brent futures fell 13 cents, or 0.2%, to $75.19 a barrel by 0015 GMT, while West Texas Intermediate crude (WTI) also fell 13 cents, or 0.2%, to $71.53.
Read all the Latest Business News, Tax News and Stock Market Updates here
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