Petrol Rate, Diesel Rate Today (November 2): The petrol and diesel prices remained unchanged on Saturday, November 2. According to the fuel price data available on the website of Indian Oil Corporation Ltd (IOCL), the price of petrol in Delhi is Rs 72.86 per litre on Saturday, while diesel price is at Rs 65.80. In Mumbai, the rate of one litre of petrol is Rs 78.51 today and a litre of diesel is priced at Rs 68.99 per litre. In Chennai, the retail price of petrol is Rs 75.69 a litre, while diesel was being sold at Rs 69.52 a litre. In Kolkata, petrol rate is down to Rs 75.55 a litre today, while diesel price is at Rs 68.19 a litre today. In Noida, petrol is retailing at Rs 74.59 a litre, while diesel price reduced to Rs 66.09 a litre. The price of petrol in Gurugram is Rs 72.79 a litre while diesel was selling at Rs 65.12 a litre.
Why Petrol, Diesel Prices Change Every Day?
The fuel prices are in India are revised on a daily basis. Petrol and diesel prices are revised every day at 06:00 am to sync it with the variation in global oil prices. Oil maketing companies (OMC) review the global fuel prices and decide petrol and diesel daily. Indian Oil, Bharat Petrolium and Hindustan Petrolium release the new rates at 6 am every morning. Generally, when international crude oil prices gain, prices in India move higher. Other factors also impact the price of fuel like rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on.
Why Fuel Prices Differ In Every City?
Price of fuel includes excise duty, value added tax (VAT), and dealer commission. As VAT varies from state to state, the price of fuel is different in every city.
(Disclaimer: This information is based on external sources and News Nation is not responsible for any difference in the rates)