Petrol prices came down on Sunday (Photo Credit: PTI File)
Petrol Rate, Diesel Rate Today (November 3): Petrol prices came down on Sunday, November 3. However, there was no change in diesel prices today. According to the fuel price data available on the website of Indian Oil Corporation Ltd (IOCL), Oil Market Companies (OMC) have reduced petrol prices in Delhi and Kolkata by 7 paise while petrol prices in Mumbai and Chennai came down by 6 paise and 8 paise, respectively. According to the Indian Oil webiste, petrol prices in Delhi, Mumbai, Kolkata and Chennai were Rs 72.74, Rs 78.42, Rs 75.45 and Rs 75.59 per litre respectively. Diesel prices in Delhi, Mumbai, Kolkata and Chennai remained at Rs 65.80, Rs 68.99, Rs 68.19 and Rs 69.52 per litre respectively. In Noida, petrol is retailing at Rs 74.52 a litre, while diesel price reduced to Rs 66.09 a litre. The price of petrol in Gurugram is Rs 72.72 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 58.50 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.