Petrol, diesel prices today, August 31: Check latest rates in Delhi, Mumbai, Chennai, Kolkata & more

Petrol and diesel prices remained largely unchanged across major Indian cities on Monday, August 31, with retail rates holding steady after recent volatility linked to global crude movements.

In Delhi, petrol continues to be priced above ₹100 per litre at ₹102.12, while diesel is retailing at ₹95.20 per litre. Mumbai has also continued to see petrol prices above the ₹110 mark, with petrol selling at ₹111.21 per litre and diesel at ₹97.83 per litre, a slight lower from the previous prices.

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In other major cities, including Bengaluru, Hyderabad and Kolkata, petrol prices remain above ₹110 per litre. Diesel prices are below ₹100 in these cities, except in Hyderabad and Kolkata, where diesel is priced at ₹104.85 and ₹100.65, respectively.

What drives petrol and diesel prices in India?

A combination of global, economic, and domestic factors shapes fuel prices at the pump. At the heart of it is the international price of crude oil, the base raw material for both petrol and diesel, which has the single biggest bearing on what consumers ultimately pay.

The rupee-dollar exchange rate is another key variable, given that India relies heavily on imported crude. When the rupee weakens against the dollar, the cost of procuring crude rises, which can feed directly into higher retail fuel prices.

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Why do prices differ across different cities?

On top of that, taxes levied by both the central and state governments make up a substantial portion of the final price, which is why petrol and diesel rates differ across states. Transportation costs and prevailing demand-supply conditions also factor into the retail price consumers see at the pump.