Petrol, Diesel Prices Today: Huge Fall In Fuel Prices- Check Latest Rates In India On October 5

Petrol Rate, Diesel Rate Today: Petrol and diesel prices saw one of the biggest fall on Saturday, October 5. This is the third straight day that petrol and diesel prices have come down after days of upward movement. On Saturday, the petrol rate decreased by 29-31 paise while diesel rate decreased by 19 to 20 paise accorss India today. The petrol and diesel prices are expected to cool down over the coming weeks as global petroleum product prices are also easing according to IndianOil. 

This is the biggest cut in auto fuel prices since September 14 after a drone attack on Saudi Arabia’s crude oil processing facilities hit the Kingdom’s oil production by half. Auto fuel prices have been rising steadily over the fortnight after the attack, from Rs 71.97 a litre for petrol and Rs 65.37 a litre for diesel in Delhi in the daily price revisions.

Sanjiv Singh, IndianOil Chairman, recently told BusinessLine that the price of products was affected after the attack in Saudi Arabia. "Now the price of Gasoline is coming down and we can see a similar trend in the Indian market over the coming weeks. The price in the Indian has started to come down from today," he added.

Fuel (Petrol, Diesel, CNG) Rates In Indian Cities

According to the fuel price data available on the website of Indian Oil Corporation Ltd (IOCL), the petrol prices in Delhi came down by 29 paise to Rs 74.04 a litre on Saturday from Rs 74.33 on Friday, while diesel prices decreased by 20 paise at Rs 67.15 per litre today from Rs 67.35 on Friday.

In Mumbai, the rate of one litre of petrol is Rs 79.65 per litre on Saturday- a decrease of 28 paise from Friday. A litre of diesel is priced at Rs 70.39 per litre in Mumbai. In Chennai, the retail price of petrol came down by 31 paise to Rs 76.90 a litre, while diesel was being sold at Rs 70.94 a litre. In Kolkata, petrol rate came down by 29 paise at Rs 76.67 a litre today, while diesel price were at Rs 69.51 a litre today.

The rate of petrol in Noida was Rs 75.49 on Saturday, down 23 paise from the Rs 75.72 a litre on Friday while diesel was selling at Rs 67.42 a litre. In Gurugram, petrol rate is Rs 73.70 a litre, while diesel price in Gurugram is Rs 66.26 per litre.

CNG Prices Cut In Delhi-Noida, Discount On Fuelling At Night

Indraprastha Gas Limited (IGL), the sole supplier of CNG in Delhi, on Wednesday announced a reduction in the selling prices of the gas after the government reduced the prices of domestically produced natural gas. The new consumer price will be effective from Thursday.

This revision in prices would result in a decrease of Rs 1.90 per kg in the consumer prices of CNG in Delhi and Rs 2.15 per kg in Noida, Greater Noida and Ghaziabad.

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. 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.

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. 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.