India Press Journal

Updated Prices for Gas and Diesel: Verify Prices in Your City on February 27

<p>On February 27, 2024, the prices of petroleum and diesel experienced an upward surge in early Asian trading, marking the third consecutive day of gains. This rise can be attributed to disruptions in shipping that have sparked concerns over the supply chain. At approximately 6 am on Monday, WTI crude is being traded at $76.25 per barrel, while simultaneously, Brent crude is commanding a price of $81.36 per barrel.</p>
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<p>Domestic oil marketing companies have unveiled the most recent rates for petrol and diesel. In India, fuel prices undergo revision every morning at 6 am. It is noteworthy that prior to June 2017, the adjustment in prices occurred every 15 days.</p>
<p>In the Indian context, the pricing dynamics of petrol and diesel are intricately tied to variables such as freight charges, value-added tax (VAT), and local levies, leading to variations in rates across different states.</p>
<p><strong>Changes in Petrol and Diesel Rates Today</strong></p>
<p>In Chhattisgarh, the cost of petrol has risen by 44 paise, and diesel has witnessed an increase of 43 paise. Similarly, in Rajasthan, the price of petrol has escalated by 50 paise, and diesel has gone up by 46 paise. Notable increases have also been observed in Punjab, Maharashtra, Haryana, Jammu and Kashmir, and Karnataka. Conversely, in Bihar, the price of petrol has decreased by 32 paise, and diesel by 30 paise. In Himachal Pradesh, both petrol and diesel have experienced a reduction of 14 paise. There has been a marginal decline in petrol and diesel prices in West Bengal, Uttar Pradesh, Uttarakhand, and Tamil Nadu.</p>
<p>Petrol and Diesel Prices in India Today (Refer to the city-wise rate list below)</p>
<p><strong>Mumbai’s Petrol & Diesel Rates</strong></p>
<p>As of February 27, the price of petrol in Mumbai continues to surpass the Rs 100 mark, standing at Rs 106.31 per litre, while diesel is priced at Rs 94.27 per litre.</p>
<p><strong>Diesel Price Today in Delhi</strong></p>
<p>As of February 27, the cost of diesel in Delhi stands at Rs 89.62 per litre.</p>
<p><strong>Petrol Price Today in Delhi</strong></p>
<p>As of February 27, the cost of petrol in Delhi is Rs 96.72 per litre.</p>
<p><strong>Check petrol and diesel prices across cities on February 27:</strong></p>
<p>In India, fuel prices have maintained stability since May 2022, following a reduction in fuel taxes by both the central government and several states.</p>
<p>Retail prices of fuel are adjusted daily at 6 am by oil marketing companies, guided by the global price of crude oil. The government regulates fuel prices through mechanisms such as excise tax, base pricing, and price caps.</p>
<p><strong>Factors Influencing Petrol and Diesel Prices in India</strong></p>
<p><strong>Crude oil price:</strong> The fundamental raw material for the production of petrol and diesel is crude oil, and consequently, its price has a direct impact on the overall cost of these fuels.</p>
<p><strong>The exchange rate between the Indian rupee and the US dollar:</strong> Given India’s significant role as a crude oil importer, the pricing of petrol and diesel is also influenced by the exchange rate between the Indian rupee and the US dollar.</p>
<p><strong>Taxation:</strong> Both central and state governments levy various taxes on petrol and diesel, and these taxes may vary between states, significantly affecting the ultimate prices of these fuels.</p>
<p><strong>Refining costs:</strong> The final cost of petrol and diesel is additionally shaped by the expenses incurred in refining crude oil into these fuels. The refining process can be expensive, and the costs may fluctuate based on factors such as the type of crude oil used and the efficiency of the refinery.</p>
<p>Demand for petrol and diesel: The prices of these fuels can also be impacted by fluctuations in demand. An increase in demand often leads to higher prices.</p>

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