Petrol and Diesel Price Today September 5, 2023
Petrol and diesel prices in India remained unchanged on Tuesday, September 5, 2023, as state-run oil marketing companies (OMCs) decided to keep the rates steady amid fluctuating global crude oil prices. According to the GoodReturns website, the price of petrol in Delhi was Rs 96.72 per litre and the price of diesel was Rs 89.62 per litre on Tuesday.
The prices of petrol and diesel vary across different cities in India due to various factors such as local taxes, transportation costs, and market conditions. The table below shows the latest rates of petrol and diesel in some of the major cities in India as of September 5, 2023.
|City||Petrol (Rs per litre)||Diesel (Rs per litre)|
The prices of petrol and diesel are also influenced by the international market trends and the exchange rate of the rupee against the dollar. On Monday, September 4, 2023, crude oil prices fell by more than one percent in the global market as investors worried about the impact of Hurricane Ida on the U.S. oil production and demand. Brent crude futures, the global benchmark for oil prices, were trading at $71.51 per barrel and West Texas Intermediate (WTI) crude futures were trading at $68.50 per barrel as of Tuesday morning (India time). The rupee was trading at 74.32 against the dollar on Tuesday, marginally lower than its previous close of 74.28.
Analysts expect the fuel prices in India to remain stable or decline slightly in the coming days as the global oil market is likely to remain under pressure due to weak demand outlook and rising supply from OPEC+ countries. They also suggest consumers to keep track of the daily price changes and plan their fuel purchases accordingly.