Fuel Rates Today On October 8: Check the Latest Petrol and Diesel Price in Your City

Fuel Rates Today On October 8

Fuel Rates Today On October 8: On Tuesday, October 8, the fuel rate in India slightly declined after a steepest weekly rise last week because of the recent conflict between Israel and Iran.

In the foreign market, the Brent crude futures went down by 31 cents or 0.4 percent to $77.74 per barrel.

The petrol rate today in India is Rs 101.06 per litre while the diesel rate is priced at Rs 92.64 per litre.

The vice president of Mehta Equities, Rahul Kalantri said quoted by financialexpress.com, “Crude oil prices experienced significant volatility last week, recovering from their lows to reach five-week highs, driven by heightened tensions in the Middle East and better-than-expected U.S. non-farm payroll data.”

He further added, “Israel’s military actions against Lebanon and its threats of retaliation against Iran in response to missile attacks on Israel have further unsettled global oil markets. The crude oil prices rose due to positive U.S. economic data, including the non-farm payroll report and the unemployment rate.”

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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