Fuel prices were not reduced by the oil marketing companies as was anticipated on the first day of the month, in contrast to popular rumours that there would be a change in the price of petrol and diesel. The price of petrol and diesel did not decrease under the new rates, which OMCs post each day at 6 am.
Yesterday, numerous media outlets said that the cost of petrol and diesel would be reduced by 40 paise per litre. Starting on November 1 at 6 a.m., the new rates will be in effect.
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Given that the price of crude oil has been declining and staying consistent for some time, the price decline was anticipated. The cost of crude oil has been below 95 dollars per barrel for some time now.
The drop in fuel prices would have occurred after more than six months of stability, had the OMCs announced a price reduction for petrol and diesel. The most recent price cut occurred on April 7 of this year.
List of petrol prices in major Indian cities:
New Delhi: Rs 96.72
Kolkata: Rs 106.03
Mumbai: Rs 106.31
Chennai: Rs 102.63
Gurgaon: Rs 97.04
Noida: Rs 97.00
Bangalore: Rs 101.94
Lucknow: Rs 96.57
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List of diesel prices in major Indian cities:
New Delhi: Rs 89.62
Kolkata: Rs 92.76
Mumbai: Rs 94.27
Chennai: Rs 94.24
Gurgaon: Rs 90.05
Noida: Rs 89.82
Bangalore: Rs 87.89
Lucknow: Rs 89.76
