Petrol, diesel updated price chart on October 3: Check current rates in major cities here
On October 3, Delhi's petrol rate is Rs 96.72 per litre, while diesel is being sold for Rs 89.62 a litre. In Mumbai, petrol is sold for Rs 106.31 and diesel rate is Rs 94.27 per litre.
- Oct 3, 2023,
- Updated Oct 3, 2023 9:54 AM IST
Petrol, diesel prices on October 3: Petrol and diesel prices largely remained unchanged on August 23 (Wednesday). Fuel rates have been steady for a year now after Union Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel in May 2022.
The public sector oil marketing companies (OMCs), including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL), revise the prices on a daily basis at 6 am, which is in line with global crude oil prices.
Following the daily revision, a number of levies are added to the final price. These levies are Value Added Tax (VAT), freight charges, local taxes, etc. Therefore, the prices differ from state to state.
On October 3, Delhi's petrol rate is Rs 96.72 per litre, while diesel is being sold for Rs 89.62 a litre. In Mumbai, petrol is sold for Rs 106.31 and diesel rate is Rs 94.27 per litre.
In Kolkata, the petrol price is constant at Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.
Some states and cities saw some minor changes. In Noida (Uttar Pradesh), petrol and diesel is available for Rs 96.94 and Rs 90.11 per litre, respectively. In Ghaziabad, the petrol price is Rs 96.44 per litre and diesel is available for Rs 89.62 per litre. In Lucknow, petrol can be bought for Rs 96.56 and diesel for Rs 89.75 per litre. In Patna, petrol has become Rs 107.24 and diesel Rs 94.04 per litre.
Petrol: Rs 101.94
Diesel: Rs 87.89
Petrol: Rs 98.65
Diesel: Rs 90.05
Petrol: Rs 102.86
Diesel: Rs 94.46
Petrol: Rs 96.66
Diesel: Rs 89.54
Petrol: Rs 106.03
Diesel: Rs 92.76
Petrol: Rs 96.57
Diesel: Rs 89.76
Petrol: Rs 106.31
Diesel: Rs 94.27
Petrol: Rs 96.72
Diesel: Rs 89.62
Noida (Gautam Buddha Nagar)
Petrol: Rs 96.79
Diesel: Rs 89.96
Petrol: Rs 96.58
Diesel: Rs 89.75
Crude oil
Oil prices slipped 1 per cent in early Asian trade on Tuesday, after falling to a three-week low in the previous session, on a stronger US dollar, rising US bond yields and mixed supply signals, Reuters reported. Brent futures for December delivery declined 92 cents, or 1.01 per cent, to $89.79 a barrel by 0225 GMT.
The price of oil is expected to stay elevated as demand for energy increases, Opec+ secretary general Haitham Al Ghais said.
Opec+ is a group of 23 oil-exporting countries that decides how much crude oil to sell on the world market.
"We see demand growing about 2.4 million barrels a day," Haitham Al Ghais told the BBC.
Saudi Arabia said it would be cutting its production of crude oil by a million barrels a day to boost prices.
The International Energy Agency (IEA) said the decision by Saudi Arabia and Russia - two major oil producers and members of Opec+ - to cut production could cause a "significant supply shortfall" by the end of this year.
Al Ghais said: "This is a voluntary decision taken by two sovereign nations, Saudi Arabia and Russia. This decision can be described as precautionary or pre-emptive because of uncertainties".
Following Russia's invasion of Ukraine in February 2022, oil prices soared, hitting more than $120 a barrel in June last year. They fell back to a little above $70 a barrel in May this year, but have steadily risen since then as producers have tried to restrict output to support the market.
Brent crude, a benchmark for prices, breached $95 a barrel on Tuesday amid predictions of shorter supplies, with fears the price may breach $100 per barrel. The rise prompted a warning to drivers that fuel prices could rise in the coming 10 months, and stoked fears that inflation in key economies could be prolonged.
Also read: India-Canada tensions: New Delhi tells Ottawa to withdraw dozens of diplomats
Also read: Adani Ports, Tata Power, Central Bank: Trading strategies for these buzzing stocks
Petrol, diesel prices on October 3: Petrol and diesel prices largely remained unchanged on August 23 (Wednesday). Fuel rates have been steady for a year now after Union Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel in May 2022.
The public sector oil marketing companies (OMCs), including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL), revise the prices on a daily basis at 6 am, which is in line with global crude oil prices.
Following the daily revision, a number of levies are added to the final price. These levies are Value Added Tax (VAT), freight charges, local taxes, etc. Therefore, the prices differ from state to state.
On October 3, Delhi's petrol rate is Rs 96.72 per litre, while diesel is being sold for Rs 89.62 a litre. In Mumbai, petrol is sold for Rs 106.31 and diesel rate is Rs 94.27 per litre.
In Kolkata, the petrol price is constant at Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.
Some states and cities saw some minor changes. In Noida (Uttar Pradesh), petrol and diesel is available for Rs 96.94 and Rs 90.11 per litre, respectively. In Ghaziabad, the petrol price is Rs 96.44 per litre and diesel is available for Rs 89.62 per litre. In Lucknow, petrol can be bought for Rs 96.56 and diesel for Rs 89.75 per litre. In Patna, petrol has become Rs 107.24 and diesel Rs 94.04 per litre.
Petrol: Rs 101.94
Diesel: Rs 87.89
Petrol: Rs 98.65
Diesel: Rs 90.05
Petrol: Rs 102.86
Diesel: Rs 94.46
Petrol: Rs 96.66
Diesel: Rs 89.54
Petrol: Rs 106.03
Diesel: Rs 92.76
Petrol: Rs 96.57
Diesel: Rs 89.76
Petrol: Rs 106.31
Diesel: Rs 94.27
Petrol: Rs 96.72
Diesel: Rs 89.62
Noida (Gautam Buddha Nagar)
Petrol: Rs 96.79
Diesel: Rs 89.96
Petrol: Rs 96.58
Diesel: Rs 89.75
Crude oil
Oil prices slipped 1 per cent in early Asian trade on Tuesday, after falling to a three-week low in the previous session, on a stronger US dollar, rising US bond yields and mixed supply signals, Reuters reported. Brent futures for December delivery declined 92 cents, or 1.01 per cent, to $89.79 a barrel by 0225 GMT.
The price of oil is expected to stay elevated as demand for energy increases, Opec+ secretary general Haitham Al Ghais said.
Opec+ is a group of 23 oil-exporting countries that decides how much crude oil to sell on the world market.
"We see demand growing about 2.4 million barrels a day," Haitham Al Ghais told the BBC.
Saudi Arabia said it would be cutting its production of crude oil by a million barrels a day to boost prices.
The International Energy Agency (IEA) said the decision by Saudi Arabia and Russia - two major oil producers and members of Opec+ - to cut production could cause a "significant supply shortfall" by the end of this year.
Al Ghais said: "This is a voluntary decision taken by two sovereign nations, Saudi Arabia and Russia. This decision can be described as precautionary or pre-emptive because of uncertainties".
Following Russia's invasion of Ukraine in February 2022, oil prices soared, hitting more than $120 a barrel in June last year. They fell back to a little above $70 a barrel in May this year, but have steadily risen since then as producers have tried to restrict output to support the market.
Brent crude, a benchmark for prices, breached $95 a barrel on Tuesday amid predictions of shorter supplies, with fears the price may breach $100 per barrel. The rise prompted a warning to drivers that fuel prices could rise in the coming 10 months, and stoked fears that inflation in key economies could be prolonged.
Also read: India-Canada tensions: New Delhi tells Ottawa to withdraw dozens of diplomats
Also read: Adani Ports, Tata Power, Central Bank: Trading strategies for these buzzing stocks