Fuel Rates Today On August 29: Check the Latest Petrol and Diesel Price in Your City

Fuel Rates Today On August 29

Fuel Rates Today On August 29: The fuel prices in India today have remained constant for months, the last price drop in petrol and diesel prices was recorded in March 2024.

On August 29, the petrol and diesel rates in India remain unchanged.

The new fuel prices are announced every day at 6 am by oil companies such as HPC, BPCL, and IOC. These oil companies announce the new petrol and diesel prices after adjusting the current crude oil rates.

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

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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.

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