Fuel Rates Today On August 18: Check the Latest Peteol and Diesel Price in Your City

Fuel Rates Today On August 18

Fuel Rates Today On August 18: The fuel prices in India Today remained unchanged in the last 24 hours. The last fluctuation in petrol and diesel prices was recorded for months.

The oil marketing companies announce the new petrol and diesel prices every day at 6 am. The petrol and diesel prices are determined after adjusting the current crude oil prices.

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The last fluctuation before the Lok Sabha Elections was recorded in March, 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.

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

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.

Also Read: Fuel Rates Today On August 17: Check the Latest Peteol and Diesel Price in Your City