Petrol, Diesel Prices Unchanged On Monday

Petrol and diesel rates were left unchanged at existing levels on Monday i.e. November 2. 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 2, 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 Monday, November 2:

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 slumped more than 4% on Monday to the lowest levels since May on worries a swathe of coronavirus lockdowns across Europe will weaken fuel demand, while traders braced for turbulence during the U.S. Presidential election week.

Brent crude for January was at $36.32 a barrel, down $1.62, or 4.3 per cent, by 0018 GMT, while U.S. West Texas Intermediate fell $1.62, or 4.5 per cent, to $34.17 a barrel. Brent earlier hit a low of $35.74 a barrel while WTI slipped to $33.64 a barrel.