Fuel Rates Today On November 2: Check the Latest Petrol and Diesel Price in Your City

Fuel Rates Today November 2: The petrol and Diesel prices in India have slightly increased compared to previous day's prices.

On Saturday, November 2 the petrol rate today in Hyderabad is Rs 107.41 per litre while the diesel rate today is Rs 95.65 per litre.

As per the Research Analyst at Sharekhan by BNP Paribas, Mohammed Imran, ”The optimism surrounding rate cuts and stimulus measure from Chinese policymakers may remain supportive for oil prices along with other commodities, but crude oil market remain in surplus with OPEC holding surplus capacities to cater to any shortfall or supply disruption, hence contained geo-political issue will keep prices in a broader range of $66-$74 in short term . for the day we advise buying the dips.”

However, the latest petrol and diesel prices are published daily by oil marketing companies such as HPCL, BPCL, and Indian Oil.

The highest petrol price and diesel rate is in Hyderabad while the lowest petrol rate is in Lucknow and the lowest diesel and petrol rate is in Delhi.

Let’s check the latest diesel and petrol price prevailing in different cities in India.

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Check the Latest Petrol and Diesel Price in Your City

Factors Affecting the Fuel Prices in India

There are various factors that affect the price of fuel in India. Some of these factors are:

Demand and Supply: As the demand for petrol and diesel rises, the price of the fuel also increases. On the other hand, as the supply of petrol and diesel increases, the fuel rate decreases or vice versa.

Geopolitical factors: Geopolitical factors include dead of the highest political leader, war, political instability, or any uncertainty that affects the fuel and petrol rates significantly.

Taxes: Taxes also play an important role in the fluctuation of fuel prices. Rise in taxes such as central and state governments, Excise duty and value-added taxes highly influence the fuel rates in India.

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