Petrol and Diesel prices on January 16: Check latest rates of your city here

According to latest petrol and diesel prices, in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre.

The petrol and diesel prices remained unchanged by the oil companies in various cities in India on Tuesday, according to GoodReturns. However, some minor fluctuations have also been observed which vary from state to state.

Check Petrol and Diesel prices on January 16:

According to the latest petrol and diesel prices on January 16, petrol in Delhi is being sold at Rs 96.72 a litre while diesel is being sold at Rs 89.62 a litre. In Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. While petrol in Kolkata is Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.

Petrol is being sold at Rs 107.74 per litre in Bihar, Rs 97.49 in Haryana, Rs 100.18 in Jharkhand and Rs 94.94 in Uttarakhand. There has been an increase in the price of petrol in all these states from yesterday. There is no change in petrol prices in Uttar Pradesh. There is a decline in petrol prices in Andhra Pradesh and today it is being sold at Rs 111.45 per litre.

Petrol and diesel rates in India are determined by these factors:

• International crude oil prices: Crude oil is the main raw material used to produce petrol and diesel. Therefore, changes in international crude oil prices have a direct impact on petrol and diesel prices in India.

• Central and state taxes: The central and state governments levy a number of taxes on petrol and diesel, which account for a significant portion of the retail price.

• Refinery margins: The oil companies that refine crude oil into petrol and diesel also charge a margin for their services. This margin is also included in the retail price of petrol and diesel.

• Foreign exchange rates: The Indian rupee's value against the US dollar also plays a role in determining petrol and diesel prices. A weaker rupee means that oil companies have to pay more to import crude oil, which is reflected in higher petrol and diesel prices.

The petrol and diesel prices in India are revised on a daily basis at 6 am based on all of these factors.

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