Petrol price today, August 5, 2024, in India remain stable with no changes across major cities. The prices are set daily at 6:00 AM, reflecting fluctuations in global oil prices and other economic factors.
Hear are the updates for price :
Petrol Price in Major Cities
| Name of City | Today price | Yesterday price |
|---|---|---|
| Delhi | ₹ 94.72 | ₹ 94.72 |
| Mumbai | ₹ 103.44 | ₹ 103.44 |
| Bangalore | ₹ 102.86 | ₹ 102.86 |
| Chennai | ₹ 100.75 | ₹ 100.85 |
| Lucknow | ₹ 94.56 | ₹ 94.56 |
| Hyderabad | ₹ 107.41 | ₹ 107.41 |
| Kolkata | ₹ 104.95 | ₹ 104.95 |
| Bhubaneswar | ₹ 101.06 | ₹ 100.92 |
As observed, the petrol price in Delhi has consistently been ₹94.72 per liter since the beginning of the month, with no increase or decrease recorded. This trend is similar across other cities, where prices have remained unchanged today.
Factors Influencing the Prices
The price of petrol in India is influenced by several factors, including:
- Crude Oil Prices: The international cost of crude oil directly affects local petrol prices.
- Excise Duty and VAT: These taxes vary by state and contribute significantly to the final retail price.
- Dealer Commission: This also varies, impacting the price consumers pay at the pump.
The government employs a dynamic pricing model, meaning that prices can change daily based on these factors. This system allows for quick adjustments in response to global market changes, ensuring that Indian consumers are paying prices that reflect current market conditions.
Overall, today’s petrol prices indicate stability in the market, which can be seen as a relief for consumers amidst fluctuating global oil prices.
