Petrol prices across major Indian cities remained unchanged today. The state-owned Oil Marketing Companies (OMCs) have not implemented any price revisions, continuing the current rates. Below is a breakdown of today’s petrol prices compared to yesterday’s across key cities:
City | Today’s Price| Yesterday’s Price | Price Change|
| Agra | ₹94.42 | ₹94.42 | ₹0.00 |
| Ahmedabad | ₹94.59 | ₹94.59 | ₹0.00 |
| Allahabad | ₹95.41 | ₹95.41 | ₹0.00 |
| Aurangabad | ₹106.97 | ₹106.97 | ₹0.00 |
| Bangalore | ₹102.86 | ₹102.86 | ₹0.00 |
| Bhopal | ₹106.47 | ₹106.47 | ₹0.00 |
| Bhubaneswar | ₹103.54 | ₹103.54 | ₹0.00 |
| Chandigarh | ₹94.24 | ₹94.24 | ₹0.00 |
| Chennai | ₹100.85 | ₹100.85 | ₹0.00 |
| Coimbatore | ₹101.28 | ₹101.28 | ₹0.00 |
For further updates, consumers can also check diesel prices in their respective cities.
Mumbai Petrol Prices for the Last 10 Days
Mumbai’s petrol prices have seen no variation in the last 10 days, holding steady at ₹103.44 per litre. Below is a day-wise summary of petrol prices in Mumbai over the past week:
| Date | Price/Ltr | Price Change |
|---|---|---|
| 2024-10-09 | ₹103.44 | ₹0.00 |
| 2024-10-08 | ₹103.44 | ₹0.00 |
| 2024-10-07 | ₹103.44 | ₹0.00 |
| 2024-10-06 | ₹103.44 | ₹0.00 |
| 2024-10-05 | ₹103.44 | ₹0.00 |
| 2024-10-04 | ₹103.44 | ₹0.00 |
| 2024-10-03 | ₹103.44 | ₹0.00 |
| 2024-10-02 | ₹103.44 | ₹0.00 |
| 2024-10-01 | ₹103.44 | ₹0.00 |
| 2024-09-30 | ₹103.44 | ₹0.00 |
How Petrol Prices Are Determined
Petrol prices in India are set by state-owned Oil Marketing Companies (OMCs) such as Bharat Petroleum, Indian Oil, and Hindustan Petroleum. These prices are adjusted daily based on factors such as international crude oil prices, the exchange rate between the Indian rupee and the US dollar, and global market conditions.
In June 2017, the government introduced the dynamic fuel pricing system, where petrol and diesel prices are revised daily at 6:00 a.m. This system ensures that even minor fluctuations in international oil prices are reflected promptly at fuel stations. Petrol prices also include several components such as excise duty, VAT (which varies by state), and dealer commissions, which contribute to the final price paid by consumers.
Impact of Petrol Price Fluctuations
The price of petrol directly affects the cost of transportation and indirectly influences the prices of goods and services. As the number of vehicles on the road continues to rise, any change in petrol prices can have a significant impact on daily life, especially for those who rely on fuel for commercial purposes. Rising petrol prices often lead to an increase in the cost of essential commodities, putting a strain on households, particularly for the lower-income segments of society.
India’s oil industry comprises several key stakeholders:
- Oil Production and Exploration Companies: Entities like ONGC, Oil India, Cairn India, and Reliance Industries are involved in the extraction of crude oil, although domestic production only meets about 25% of India’s oil needs, with the rest being imported.
Oil Refineries: Companies such as Reliance Industries Ltd, Bharat Petroleum Corporation Ltd, and Nayara Energy Ltd process crude oil into various petroleum products including petrol.
- Oil Marketing Corporations (OMCs): These companies handle the marketing, sales, and distribution of petroleum products. Major players include Indian Oil Corporation, Bharat Petroleum Corporation, and private entities like Reliance Industries.
- Dealers: Petrol bunk owners or operators sell petrol to consumers, earning a commission per litre sold.
Components of Petrol Pricing in India
The price of petrol in India is composed of several key elements:
- Crude Oil Cost and Freight Charges**: The cost of crude oil and the shipping charges to transport it.
- Refinery Transfer Price (RTP)**: The cost of converting crude oil into petrol, charged by the refineries.
- OMCs Profit Margins**: The profit made by Oil Marketing Companies from selling refined petrol.
- Central and State Taxes**: This includes excise duties and Value Added Tax (VAT), with the latter varying across states.
- Dealer Commission**: The margin earned by petrol station owners for distributing petrol to consumers.
Discover more from
Subscribe to get the latest posts sent to your email.
