For some time, the prices of petrol and diesel were increasing continuously, but now they are seen declining. This decline has come into force from 7 March 2025 and there are many important reasons behind it. First, crude oil prices have come down in the international market, affecting the prices of petroleum products. Second, changes in currency exchange rate are also an important factor, such as stability in the exchange rate of the rupee and dollar.
With this decline, petrol prices have come down by 7 paise per liter, while diesel prices have come down by 18 to 24 paise per liter. This change is also being seen in India, where prices of petrol and diesel are updated daily so that the status of the international market can be taken into consideration.
Petrol and diesel prices depend on many factors, such as crude oil prices, currency exchange rates, and impact of taxes. Keeping all these factors in mind, oil marketing companies (OMCs) review the prices daily and make changes as required.
Petrol Diesel Price Today: Overview
The table below gives details of the prices of petrol and diesel:
| City | Petrol price (₹/liter) | Diesel price (₹/liter) |
| Delhi | 94.72 | 87.62 |
| Mumbai | 103.44 | 89.97 |
| Chennai | 100.85 | 92.44 |
| Kolkata | 103.94 | 90.76 |
| Noida | 94.66 | 87.76 |
| Lucknow | 94.65 | 87.76 |
| Bengaluru | 102.86 | 88.94 |
| Hyderabad | 107.41 | 95.65 |
| Jaipur | 104.88 | 90.36 |
| Thiruvananthapuram | 107.62 | 96.43 |
| Bhuvaneshwar | 101.06 | 92.91 |
How are the prices of petrol and diesel fixed?
Petrol and diesel prices depend on many factors, some of which are major factors:
- Crude oil prices: It directly affects the prices of petroleum products.
- Currency exchange rate: India imports crude oil, so the rupee and dollar exchange rate is affected.
- Tax: The central and state governments tax petrol and diesel, which increase prices.
- Processing cost: The process of converting crude oil into petrol and diesel costs.
- Demand and Supply: Balance of demand and supply in the market also affects prices.
Due to fall in petrol and diesel prices
There are many reasons behind the fall in petrol and diesel prices:
- Crude oil prices decrease in the international market: This is a major reason that reduces the prices of petroleum products.
- Stability in currency exchange rate: When the rupee is strong, the prices of imported crude oil are low.
- Reduction in global demand: When crude oil demand is low, its prices also fall.
Future of petrol and diesel prices
In the future, the prices of petrol and diesel can be even lower if crude oil prices fall further. In addition, global economic conditions and political events may also have an impact. For example, the resolution of the Russia-Ukraine conflict may increase Russia’s oil exports, which can reduce crude oil prices further.
Impact of petrol and diesel prices
Petrol and diesel prices impact not only on transport but also on economic development. When prices are low, it is a matter of relief for consumers and can promote economic activities. Conversely, when prices rise, it can increase inflation and negatively impact economic growth.
conclusion
The decline in petrol and diesel prices is a welcome step, which gives relief to consumers. This decline depends on international market conditions and currency exchange rates. In the future, if the prices of crude oil are lower, petrol and diesel prices may be even lower.
Disclaimer: This article provides general information about petrol and diesel prices. This information is collected from various sources and is to educate it, not as a specific investment or financial advice. It would be appropriate to seek the advice of an expert before taking any financial decision.
