Petrol and diesel prices came down on Friday (Photo Credit: PTI File)
Petrol Rate, Diesel Rate Today (November 1): After no change for couple of days, Petrol and diesel prices came down on Friday, November 1. Oil Market Companies (OMC) reduced petrol price by 6 paise per litre and diesel price by 5 paise today. 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 Friday, 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.
CNG Prices Cut In Delhi-Noida
The price of CNG is Rs 45.20 a kg in Delhi this month. The price of CNG is Rs 51.35 a kg in Noida while CNG is priced at Rs 58.95 per kg in Gurugram. In order to promote CNG fuelling at night, IGL will also offer a discount of Rs 1 per kg on selling prices of CNG for filling between 12 am to 6 am at select outlets.
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.