Fuel Rates Today On August 16: Check the Latest Peteol and Diesel Price in Your City

Fuel Rates Today On August 16

Fuel Rates Today On August 16: The fuel prices today in India remained stable and unchanged for several months, the last fluctuation in prices was recorded since March 2024.

In March 2024, before the Lok Sabha Elections, the petrol and diesel rates were reduced by Rs 2 and before that, the last price drop was in May 2022 after the government reduced the taxes imposed on fuel.

The oil marketing companies such as HPCL, BPCL and Indian Oil announce the daily new fuel prices in India after adjusting the current crude oil prices.

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Let’s check out the latest petrol and diesel prices in different cities in India:

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Factors Influence the Fuel Prices in India

Several factors affect petrol and diesel such as freight charges, value-added tax (VAT), and local taxes in India. Some of the other factors are:

Crude oil price: Crude oil is the raw material for producing petrol and diesel. 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.

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