Fuel Prices Today: Find the Latest Petrol and Diesel Rates in Your City - August 1 Updates

Fuel Prices Today: For the months the petrol and diesel rates in India have remained constant, the last drop in fuel prices was recorded before the Lok Sabha election in March 2024.

On August 7, the petrol and diesel prices today in India stayed unchanged. The oil marketing companies announce the prices every day in the morning at 6 am.

The fuel prices in India are calculated after comparing the US dollar value and Crude oil prices as these two are major factors that highly influence the petrol and diesel rates in India.

Let's check out the current prevailing petrol and diesel prices in different cities in India: 

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Factors Influence the Fuel Prices in India

Crude oil price: Crude oil is the raw materials through which petrol and diesel are produced. So, fluctuation in crude oil prices will significantly affect the petrol and Diesel prices.

Exchange Rates: India is a major importer of fuel as it is a vast populated Country. If the Indian Rupee value decreases against other currencies such as the US dollar then the petrol and Diesel rates will increase in India.

Taxes: In India, various taxes are imposed by the government on petrol and Diesel. Fluctuations in taxes such as value-added tax, state tax, and many others will influence the fuel rates.

Also Read: Fuel Prices Today On August 6: Find the Latest Petrol and Diesel Rates in Your City