Fuel Prices Today on July 29: Check the Latest Petrol And Diesel Rates In Your City

Fuel Prices Today on July 29

Fuel Prices Today on July 29: On July 29, the fuel prices in India remained stable, the petrol and diesel prices prevailing over the country hadn’t changed at all for several months.

The last price drop in petrol and diesel prices was recorded in March 2024 before the Lok Sabha Elections.

Furthermore, it is crucial to check petrol and diesel prices daily so that you can stay up-to-date and avoid being scammed or charged high. It also helps you to save money by finding the cheapest petrol stations.

The petrol and diesel prices are released by the Oil marketing companies every day in the morning at 6 am after comparing the crude oil prices.

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Check the Latest Petrol And Diesel Rates In Your City

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Factors Influencing the Fuel Prices In India

Here are some of the factors that highly influence the petrol and diesel price in India:

International Oil barrels prices: India is among the important and biggest importers of fuel. So any changes in oil barrels will directly influence the fuel prices in India. For example if the prices of oil barrels increase then the fuel prices will also increase.

Exchange Rates: Another major factor that affects fuel prices is the value of the US dollar against the Indian rupee. For example, when the value of the rupee decreases, it increases the import cost of fuel, and then the price of petrol and decreases increases.

Tax: In developing countries like India, Taxes play a key role in influencing the petrol and diesel process. Taxes such as excise duty, state tax, value-added tax, and central tax affect fuel prices to fluctuate.

Refining: Converting crude oil into petrol and diesel takes up a lot of money and is expensive. When the refining costs of crude oil prices increase, the prices of petrol and diesel also increase.

Geopolitical Factors: Geopolitical matters include some important leaders' deaths, war, or natural disasters that can affect the supply of fuel thus increasing its demand and price.

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