Fuel Prices Today On August 2: Check Latest Petrol and Diesel Rates in Your City

Fuel Prices Today On August 2

Fuel Prices Today On August 2: The fuel prices today in India remain constant for another day, the price of fuel has remained unchanged since March.

In March, the government reduced the petrol and diesel prices in India by Rs 2, it was before the Lok Sabha Election.

However, the prices of petrol and diesel are determined by keeping track of the crude oil prices and US dollar value. Then it is adjusted by the oil marketing companies in India such as Indian Oil, HPCL, BPCL and many others.

As petrol and diesel are made after refining crude oil prices, crude oil prices directly and highly influence the fuel prices in India.

The petrol and diesel prices in India are declared every day in the morning at 6 am.

Furthermore, it is crucial to know the petrol and diesel prices prevailing in your states so that you can prevent getting scammed by charging high prices.

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Check Latest Petrol and Diesel Rates in Your City

Let’s check out the petrol and diesel prices prevailing over different states: 

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Factors Influence the Fuel Prices in India

Some factors that highly influence the fuel prices are:

Exchange Rate: When the Indian rupee value depletes against the US dollar or other currencies then the prices of petrol and diesel in India rise drastically or vice versa.

Demand and Supply: When the demand for petrol and diesel is more than its supply then it leads to an increase in fuel prices. Furthermore, When the supply exceeds more than the demand, the prices of fuel prevailing in India decrease.

Refining Cost: As petrol and diesel are made by refining the crude oil prices thus the cost of refining crude oil prices highly affects the petrol and diesel prices. However, the refining cost can be expensive, it depends on how well it is refined.

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