Fuel Price, 2 September 2024: Price Stands Stable With Petrol At Rs 94.72 And Diesel At Rs 87.62

As of September 2, 2024, fuel prices in Delhi continue to be steady, with petrol priced at ₹94.72 per liter and diesel at ₹87.62 per liter. These prices have not seen any significant fluctuations in recent days, largely due to stable global crude oil rates. Fuel prices in India are influenced by various factors including international crude oil prices, exchange rates, and local taxes such as VAT imposed by state governments. The prices are revised daily by state-owned oil marketing companies like Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, with updates typically made around 6 AM each day. Given India's heavy reliance on oil imports, around 80% of its total requirement, any change in global oil prices can directly impact domestic fuel rates. Additionally, fluctuations in the value of the Indian rupee against the dollar can further affect these prices, making the monitoring of these factors crucial for consumers and businesses alike​.