Petrol Rate, Diesel Rate Today (November 4): The fuel prices have been witnessing a marginal dip for the past few days. On Monday, the prices for both petrol and diesel came down by 9 Paise and 5 Paise per litre, respectively. 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, Mumbai, and Chennai by 9 paise per litre. The petrol price in Kolkata came down by 8 paise per litre,. respectively. On the other hand, the diesel prices in Delhi and Chennai witnessed a dip of 5 Paise per litre and 2 Paise per litre, respectively. The diesel prices in Mumbai and Kolkata came down by 3 Paise Per litre, respectively.
According to the Indian Oil website, petrol prices in Delhi, Mumbai, Kolkata and Chennai were Rs 72.65, Rs 78.33, Rs 75.37 and Rs 75.50 per litre respectively. Diesel prices in Delhi, Mumbai, Kolkata and Chennai remained at Rs 65.75, Rs 68.96, Rs 68.16, and Rs 69.50 per litre respectively.
In Noida, petrol is retailing at Rs 74.40 a litre, while diesel price reduced to Rs 65.06 a litre. The price of petrol in Gurugram is Rs 72.06 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 marketing companies (OMC) review the global fuel prices and decide petrol and diesel daily. Indian Oil, Bharat Petroleum and Hindustan Petroleum 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?
The 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)