Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol and diesel rates were left unchanged at existing levels on Tuesday i.e. November 3. That marked nearly a month of no change in the prices of petrol in different parts of the country, and five weeks in case of diesel. In Delhi, the price of petrol remained at Rs 81.06 per litre, and diesel at Rs 70.46 per litre on November 3, according to Indian Oil Corporation notifications. In Mumbai, the rates were Rs 87.74 per litre and Rs 76.86 per litre respectively. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Here are the prices of petrol and diesel in the four metros (in rupees per litre) on Tuesday, November 3:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 81.06 | 70.46 |
| Mumbai | 87.74 | 76.86 |
| Chennai | 84.14 | 75.95 |
| Kolkata | 82.59 | 73.99 |
| Source: Indian Oil | ||
Currently, petrol and diesel prices vary in different parts of the country due to local taxes. State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - which account for the majority of fuel stations in the country - review the fuel rates on a daily basis.
The three implement any changes in domestic fuel prices with effect from 6 am, aligning them with crude oil and rupee-dollar forex rates.
Meanwhile, oil prices gained nearly 3 per cent on Monday, rebounding from several day of losses built on concerns of rising coronavirus cases, one day before the end of U.S. presidential election voting.
Brent crude gained $1.03, or 2.7 per cent, to settle at $38.97 a barrel. U.S. West Texas Intermediate ended $1.02, or 2.9 per cent, higher at $36.81 a barrel.
