Petrol Diesel Price Today: Petrol Prices Hold Steady...Relief for Now, But What’s Next? - Check Now

Petrol Diesel Price Today: Today's petrol price in India is ₹103.44 per litre. There has been no change in this price compared to the previous day, and the rate has remained steady for the past two months, since June 29, 2024. This stability offers a sense of relief to consumers who have not had to adjust their budgets for fuel expenses during this period. However, the question remains: how long will this stability last?

Petrol prices in India are influenced by three main factors: international crude oil prices, domestic tax structures, and currency exchange rates. Global fluctuations in crude oil prices directly impact the cost of petrol in India, while high domestic taxes further elevate the prices compared to neighboring countries. As a result, petrol in India remains significantly more expensive, posing a challenge for consumers who rely heavily on this fuel for daily transportation.

Petrol Diesel Price Today: Diesel Price Stability, Is a Price Hike on the Horizon?

The current diesel price in India stands at ₹89.97 per litre, unchanged from the previous day. Similar to petrol, diesel prices have also remained steady for the past two months, offering a consistent cost for consumers. This stability is particularly beneficial for businesses and industries that depend on diesel, such as transportation and agriculture.

Since June 15, 2017, diesel prices in India have been revised on a daily basis, unlike the previous system where prices changed every two weeks. The daily price revision allows consumers to stay updated with minor fluctuations, preventing sudden and significant price shifts that could have a heavy impact on their budgets. This approach has provided more predictability and stability in managing fuel costs.

Petrol Diesel Price Today: LPG Price, A Stable Trend or Another Price Hike in Waiting?

The price of a 14.2 kg domestic LPG cylinder in India remains at ₹802.50, with no change since March 2024. This stability, extending over several months, is a welcome sign for consumers, particularly in a time of rising costs in other areas. Over the past year, LPG prices have seen a gradual decrease, with a significant ₹100 reduction from October 2023 to September 2024, including the largest drop of ₹100 in March 2024.

LPG prices in India are set by state-run oil companies and are revised monthly. Since LPG is a staple in nearly every Indian household for cooking, any change in its price directly affects the average consumer. The Indian government provides subsidies on domestic LPG cylinders, helping to cushion the impact of price changes. The subsidy is credited directly to consumers' bank accounts after purchase, with the amount varying monthly based on international LPG prices and currency exchange rates.

Petrol Diesel Price Today: CNG Price, What Does the Future Hold for This Green Fuel?

Compressed Natural Gas (CNG) prices in India are determined by the government and are primarily based on global natural gas prices, which India imports in large quantities. Any fluctuation in global natural gas prices directly impacts the cost of CNG in India. Since India imports over half of its natural gas needs, the domestic cost is significantly influenced by international market trends.

With increasing awareness of environmental preservation, more people in India are switching to CNG-powered vehicles. CNG is not only better for the environment, but it is also a more affordable option for consumers. However, CNG prices are subject to global market conditions, meaning that future price changes are always a possibility.

The Indian government's goal is to keep CNG prices in check while promoting it as a widespread and affordable fuel alternative. This strategy aims to attract more consumers to CNG, benefiting both the environment and the economy.