Fuel Price Update: Check Petrol-Diesel Rates for February 5 in Major Cities

• Oil Marketing Companies (OMCs) release new petrol and diesel prices daily at 6 AM, influenced by international crude oil prices and the dollar-rupee exchange rate.
• Staying informed about daily fuel prices is crucial for consumers due to their direct impact on daily expenses.
• Petrol and diesel prices have remained relatively stable since May 2022, thanks to tax cuts by the central government and several states.
• Key factors determining fuel prices include crude oil prices, rupee-dollar exchange rate, government taxes, refining costs, and demand-supply balance.
• Consumers can check daily fuel prices in their city via SMS using specific codes for Indian Oil, BPCL, and HPCL.