Inflation hit: Petrol is available in New York at around half the cost of Mumbai, know how much is the price

Petrol prices have put people at ease. The higher the use of petrol and diesel in the country, the higher the cost. Even if it is ever cheaper, it does not affect our pocket much. Oil prices rose 16 times in May, taking petrol and diesel prices to all-time highs. Today it also increased on the first day of June.

Cheap petrol is available in Mumbai in New York

Petrol in Mumbai is beyond Rs 100 per liter. According to the state-run oil company, the retail price of petrol in Mumbai has increased by 11 percent this year. Petrol cheaper than Mumbai is available in New York, USA. As per a Bloomberg report, petrol in Mumbai is almost double the price of New York.

This is the price in Mumbai and New York

According to data from Indian Oil Corporation, the price of petrol in Mumbai was Rs 100.72  ($1.39 ) per liter. According to data from the New York State Energy Research and Development Authority, gasoline prices in New York are $ 0.79 per liter.

The price is decided based on these parameters.

Let us know that the price of petrol and diesel changes at six o'clock in the morning. The new rates are applicable from 6 am onwards. After adding excise duty, dealer commission, and other things to the price of petrol and diesel, its price almost doubles.

Based on these parameters, oil companies do the work of fixing petrol rates and diesel rates daily. The dealers are the people running the petrol pumps. They sell themselves at retail prices to consumers after adding taxes and their margins to consumers. This cost is also added to the petrol rate and diesel rate.