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US West Texas Intermediate (WTI) futures showed an up move by 22 cents or 0.3 per cent and touched $67.42 per barrel.…Petrol, Diesel Price Today 6 December 2024: Check latest update on petrol and diesel prices in Mumbai, Kozhikode, Shimla, New Delhi and Chennai…Petrol, Diesel Price Today 5 December 2024: Check the latest updates on fuel prices in Chennai, Mumbai Bengaluru, Jammu and Indore…Despite the fact that both diesel and petrol are derivatives of the same crude oil, the prices of both commodities vary in India.

long term investing with mutual funds ✌️【365vc.net】✌️Beginner or expert? Our platform makes stock investing easy with high monthly gains. Start now!This is primarily due to the fact that state and federal taxes are levied differently on both products.

Even the dealer's commission varies depending on the commodity.In addition to the basic price of the diesel, other components that would make up diesel price are the central and state government taxes, OMCs and dealer's profit margins and transportation charges.While the central excise duty is the same across all Indian states, the VAT varies by state.

For example, the Delhi government levies 16.75% VAT, whereas Mumbai levies 24%.It is primarily due to the cost of transportation and the operation of the fuel station.

long term investing with mutual funds ✌️【365vc.net】✌️Invest ₹500 in our expert-managed funds and enjoy exponential monthly profits. Join now!The cost of transportation is lower if the petrol pump is close to the supply plant, so the pump charges a lower rate than other pumps located further away from the supply plant.

In addition, the pump's operating costs, such as salaries, rent, and utilities, would influence diesel pricing at each petrol station.

long term investing with mutual funds ✌️【365vc.net】✌️Maximize your returns with smart investments. Monthly profits of up to 100%!There is also a price difference between companies' pumps; for example, HP charges a different rate than its competitors IOCL and BP, and vice versa.Until October 2014, the Indian government regulated diesel prices.

Diesel prices are now directly linked to international crude prices and are thus determined by the respective OMCs.

Each OMC charges a different price for diesel based on the transportation and other charges included; it is then up to the dealer to add other costs involved in running the pump as well as supplying the fuel, which eventually adds up to the selling price of diesel.More than 90% of petrol pumps in India are controlled by three oil marketing companies (OMCs): Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL).long term investing with mutual funds Best Investment Funds for High Returns