The prices of petrol and diesel in India have experienced a minor increase compared to the previous day.
As of Tuesday, October 29, the petrol price in Hyderabad is ₹107.41 per litre, while diesel is priced at ₹95.65 per litre.
Mohammed Imran, a Research Analyst at Sharekhan by BNP Paribas, noted, “Optimism surrounding potential rate cuts and stimulus measures from Chinese policymakers may support oil prices and other commodities. However, the crude oil market remains in surplus, with OPEC holding excess capacity to address any shortfall or supply disruptions. Consequently, contained geopolitical issues will likely keep prices within a broader range of $66 to $74 in the short term. For today, we advise buying the dips.”
Daily updates on petrol and diesel prices are provided by oil marketing companies, including HPCL, BPCL, and Indian Oil.
Currently, Hyderabad has the highest petrol and diesel prices in the country, while Lucknow records the lowest petrol rates. Delhi has the lowest diesel and petrol prices.
Latest Petrol and Diesel Prices in Major Indian Cities
In Delhi, petrol is ₹94.72 and diesel is ₹87.62.
In Mumbai, petrol is ₹103.44 and diesel is ₹89.97.
In Chennai: petrol is ₹100.85 and diesel is ₹92.44.
In Kolkata, petrol costs ₹103.94, while diesel is ₹90.76.
In Noida, petrol is ₹94.66 and diesel is ₹87.76.
In Lucknow, petrol is ₹94.65 and diesel is ₹87.76.
In Bengaluru, petrol is at ₹102.86 and diesel at ₹88.94.
In Hyderabad, with the highest prices, lists petrol at ₹107.41 and diesel at ₹95.65.
In Jaipur, petrol is ₹104.88 and diesel is ₹90.36.
In Trivandrum, petrol is ₹107.62 and diesel is ₹96.43
In Bhubaneswar, petrol is ₹101.06 and diesel is ₹92.91.
Factors Affecting Fuel Prices in India
Several factors contribute to fluctuations in fuel prices in India:
Demand and Supply: As demand for petrol and diesel rises, prices tend to increase. Conversely, an increase in supply typically leads to lower prices.
Geopolitical Factors: Events such as the death of a prominent political leader, wars, political instability, or any uncertainty can significantly impact fuel prices.
Taxes: Taxation plays a crucial role in fuel price fluctuations. Increases in central and state government taxes, excise duties, and value-added taxes can significantly influence fuel rates in India.
Related topic:
Unleaded Vs Diesel Fuel: What Is The Difference?
