Fuel Prices Today: Find The Latest Petrol And Diesel Rates In Your City - July 20 Updates

Petrol and Diesel Prices

Fuel Prices Today: The fuel prices are modified by the oil marketing companies based on the changes in the crude oil prices and foreign exchange rates. The petrol and diesel prices are announced every day at 6 am by the petroleum companies.

The price of petrol and diesel hasn’t fluctuated and has remained the same since the government introduced a Rs 2 cut in fuel prices.

On March 15, the Ministry of Petroleum introduced a Rs 2 cut in the petrol and diesel prices in Inda.

On July 20, the petrol price in Mumbai is priced at Rs 103.44 per liter and the diesel price is priced at Rs 89.97 per liter.

Also Read: Bill Gates-Backed Startup Produces Animal-Free Butter From Thin Air

In Delhi, the petrol price per liter is valued at Rs 94.72 and the diesel prices cost Rs 87.62 per liter.

In Kolkata, the petrol rates on July 20 are priced at Rs 103.94 and the diesel rates are at Rs 90.76 per liter.

The petrol rate in Chennai today is valued at Rs 100.85 per liter and the diesel price is valued at Rs 92.44 per liter.

On July 20, the petrol prices in Noida, Lucknow, and Bengaluru are priced at Rs 94.66, Rs 94.65 and Rs 102.86 per liter respectively.

In Hyderabad, the petrol rates are priced at Rs 107.41 and the diesel rates are valued at Rs 95.66 per liter.

Also Read: Top Stocks To Watch After India's 2024 Budget Announcements

Factors affecting fuel prices

Some factors that directly influence the petrol and diesel prices in India are:

• Demand and Supply: When the demand for fuel is high, prices also increase and vice versa. However, when the supply excess demand, the prices also go down, and when the supply is lesser than the demand, the duel prices increase.
• Taxes: Several taxes imposed by the government directly impact the petrol and diesel prices. These taxes may be different in each state and highly influence the prices.
• Crude oil prices: Crude oil has a huge influence over fuel prices as crude oil is the main ingredient used to make petrol and diesel. If the prices of crude oil are high, the price of petrol and diesel will also increase.

Also Read: Title: Elon Musk Announces Record High X Usage: 417 Billion User-Seconds