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

Fuel Rates Today On October 2

Fuel Rates Today On October 2: For the second day in a row, the petrol and diesel prices today in Bhubaneswar have decreased compared to the previous day’s price.

On Wednesday, October 2, the petrol rate today stands at Rs 101.89 per liter and the diesel rate today is priced at Rs 92.47 per liter.

The latest fuel prices are announced daily at 6 am by oil marketing companies such as HPCL, BPCL, and Indian Oil.

The petrol and diesel prices are adjusted after changes in crude oil prices and exchange rates.

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

The last reduction in petrol and diesel rates was recorded before the Lok Sabha election which was in March. The government reduced the petrol and diesel rate by Rs 2 in March.

Let’s take a look at the current ongoing petrol and diesel rates 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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