Union Budget 2024: Petrol, Diesel Rates in Major Cities

Info: Even as the price of crude oil continues to decline in the international market, there has been no respite for Indian consumers as petrol and diesel prices remain unchanged.

Brent crude is currently trading at $82.50 per barrel, while WTI crude stands at $79.78 per barrel. This marks a significant drop compared to previous weeks. However, state-owned oil marketing companies, including Indian Oil, Bharat Petroleum, and Hindustan Petroleum, have opted to maintain the status quo on fuel prices.

Petrol and Diesel Rates in Major Cities
As of July 23, 2024, the following are the petrol and diesel prices in major Indian cities:

• New Delhi: Petrol - Rs 94.72/liter, Diesel - Rs 87.62/liter
• Mumbai: Petrol - Rs 104.21/liter, Diesel - Rs 92.15/liter
• Kolkata: Petrol - Rs 103.94/liter, Diesel - Rs 90.76/liter
• Chennai: Petrol - Rs 100.75/liter, Diesel - Rs 92.34/liter

It's important to note that fuel prices in India are influenced by a variety of factors, including crude oil prices, exchange rates, and taxes. 

While the recent decline in crude oil prices is a positive development, consumers are eagerly awaiting a corresponding reduction in pump prices.

Finance Minister Nirmala Sitharaman presented the budget, announcing a Rs 2 lakh crore outlay for job creation schemes over the next five years, providing Rs 2.66 lakh crore for rural development, and maintaining spending on long-term infrastructure projects at Rs 11.11 lakh crore to boost economic growth.