Petrol Diesel Rate 31 Oct: New petrol and diesel prices are released every day at 6 am in India. Oil companies (OMCs) update prices based on international crude oil prices and the dollar-rupee exchange rate. This ensures consumers receive daily updates on the latest rates. Changes have been recorded in petrol, diesel, and CNG rates today. Let’s take a closer look at today’s prices in major cities.
Petrol Diesel Rate 31 Oct: Petrol and diesel prices in major cities
| City | Petrol (₹/litre) | Diesel (₹/litre) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.50 | 90.03 |
| Chennai | 100.90 | 92.49 |
| Kolkata | 105.41 | 92.02 |
| Hyderabad | 107.46 | 95.70 |
| Jaipur | 104.41 | 89.93 |
| Lucknow | 94.69 | 87.81 |
| Chandigarh | 94.30 | 82.45 |
| Patna | 105.60 | 91.83 |
CNG Rate Today: What are the prices of CNG today?
| City | CNG (₹/kg) |
|---|---|
| Delhi | 76.09 |
| Mumbai | 77.00 |
| Chennai | 91.50 |
| Kolkata | 90.00 |
| Patna | 84.54 |
| Gurgaon | 82.12 |
Petrol Diesel Rate: How are petrol and diesel prices decided?
In India, petrol and diesel prices are determined by state and state. They are not uniform across the country. There are several reasons behind this. Let’s explore them in detail…
1. Taxes and local levies:
Petrol and diesel are subject to various taxes from the central and state governments. VAT and other levies vary by state, leading to price variations.
2. Global crude oil prices:
Petrol and diesel are made from crude oil. If crude oil becomes more expensive in the international market, fuel becomes more expensive in India as well.
3. Dollar-Rupee Exchange Rate:
India imports crude oil and pays for it in dollars. If the rupee weakens against the dollar, it becomes more expensive to buy oil, causing prices to rise.
4. Demand and Supply:
If the demand for petrol and diesel increases in the country, prices also increase. However, if demand decreases, prices may fall.
5. Refining Costs:
The process of converting crude oil into petrol and diesel involves significant costs. This cost also adds to the final price.
Also Read: Petrol Diesel Rate 30 Oct: Know today’s price in major cities
