Petrol Diesel Price Today: Petrol Price Freeze, Mumbai Holds Steady at ₹103.44/Litre for 2 Months - Check Now
Petrol Diesel Price Today: As of today, the price of petrol in Mumbai, India, stands at ₹103.44 per litre. Notably, there has been no change in petrol prices compared to yesterday. The petrol price has remained unchanged in India for the past two months, maintaining a steady rate since June 29, 2024. This consistency in price can be seen across various states and districts in India, where consumers can also compare current rates with those of the previous day, which already include state taxes.
India's petrol prices are influenced by a combination of factors including international crude oil prices, domestic tax structures, and currency exchange rates. The higher cost of petrol in India compared to some neighboring countries is primarily due to the significant taxes imposed on fuel within the country. These taxes play a crucial role in determining the final price that consumers pay at the pump. While the global oil market fluctuates, the Indian government's tax policies often cushion or exacerbate these changes, leading to the current pricing scenario.
Given the consistent price of petrol over the last two months, consumers have had some level of predictability in managing their expenses related to fuel. However, the higher prices relative to neighboring countries remain a topic of discussion, especially in the context of how fuel prices impact the broader economy, including transportation costs and inflation.
Petrol Diesel Price Today: Diesel Price in India (Mumbai) - Current Update
Today, in Mumbai, the price of diesel is ₹89.97 per litre, with no change recorded from the previous day. Like petrol, diesel prices in India have remained stable over the past two months, with the price unchanged since June 29, 2024. Consumers can view and compare today's diesel prices across all states and districts of India with the previous day's rates, inclusive of state taxes.
The revision of diesel prices in India has been conducted on a daily basis since June 15, 2017. Prior to this change, diesel prices were adjusted every two weeks. The shift to daily price revisions was a significant move, allowing consumers to better understand and respond to the day-to-day fluctuations in diesel prices. This change has minimized the impact of sudden, large price adjustments, which previously placed a considerable burden on consumers when prices were altered fortnightly.
The daily revision of diesel prices reflects changes in global oil markets, currency exchange rates, and domestic tax policies. This approach aims to ensure that the price at the pump accurately reflects the current market conditions, providing transparency and stability for both consumers and businesses that rely heavily on diesel, such as the transportation and logistics sectors.
Petrol Diesel Price Today: LPG Price in India (Mumbai) - Current Update
The price of a 14.2 kg domestic LPG cylinder in Mumbai, India, is ₹802.50. There has been no change in the LPG price compared to last month, with the price remaining steady at ₹802.50 since March 2024. Over the past year, the trend in LPG prices has been generally decreasing, with a notable reduction of ₹100 from September 2023 to August 2024. The most significant price drop occurred in March 2024, when the price decreased by ₹100.
LPG prices in India are determined by state-run oil companies and are revised on a monthly basis. Nearly every household in India uses LPG for cooking purposes, making any changes in LPG prices highly impactful for the general population. The government of India currently provides a subsidy on the sale of domestic LPG cylinders to consumers, which helps to offset the cost. This subsidy is directly credited to consumers' bank accounts after the purchase of a cylinder. The subsidy amount varies each month, depending on the changes in the average international benchmark LPG prices and the foreign exchange rate.
The stability of LPG prices in recent months has provided some relief to consumers, particularly as they navigate the broader economic challenges posed by fluctuating fuel prices. However, the potential for future price increases remains a concern, especially for households that rely heavily on LPG for their daily needs.
Petrol Diesel Price Today: CNG Price in India - Current Update
The price of Compressed Natural Gas (CNG) in India is determined by the government, with domestic prices influenced by global natural gas prices. Any fluctuations in the international market for natural gas directly impact the price of CNG in India. Since India imports more than half of its natural gas to meet domestic demand, the cost to the government is more than double the domestic rate, making global price trends a significant factor in setting CNG prices.
As awareness of environmental preservation grows, more people in India are opting for CNG-enabled vehicles, which are considered to be more eco-friendly than their petrol or diesel counterparts. The increasing adoption of CNG is also driven by the desire to reduce pollution and contribute to a healthier environment. However, the cost of CNG remains sensitive to international market conditions, which can lead to fluctuations in the domestic pricing of this cleaner fuel option.
The government's role in setting CNG prices reflects a broader strategy to balance environmental goals with economic realities, ensuring that CNG remains a viable and affordable option for consumers who are looking to reduce their carbon footprint while also managing their fuel costs effectively.