Indian petrol and diesel prices remained stable despite global crude volatility. Domestic fuel consumption rose 10% in October to 20.49 million tonnes.
Petrol and diesel prices remained largely unchanged across major Indian cities on Sunday, November 8, even as global crude oil markets witnessed fluctuations amid renewed tensions in the Middle East. Motorists in Delhi, Mumbai, Bengaluru, Chennai and other cities continue to see stable retail fuel rates, with only marginal variations reported in select locations.
According to the latest fuel price data, domestic petrol and diesel rates have remained relatively stable over the past two months. However, prices continue to differ from one city to another because of state taxes, including Value Added Tax (VAT), freight charges and other local levies.
The Finance Ministry recently introduced a revised export duty structure, which came into effect on October 31. Under the revised arrangement, the export duty on petrol was reduced to zero from Rs 2.50 per litre. Meanwhile, the export duty on diesel was increased from Rs 8.50 to Rs 11.50 per litre.
Petrol and Diesel prices in major Indian cities on November 8
| City | Petrol (Rs/litre) | Diesel (Rs/litre) |
| Delhi | Rs 102.12 | Rs 95.20 |
| Mumbai | Rs 111.21 | Rs 97.83 |
| Kolkata | Rs 113.51 | Rs 99.82 |
| Chennai | Rs 107.76 | Rs 99.55 |
| Bengaluru | Rs 111.68 | Rs 99.56 |
| Hyderabad | Rs 115.69 | Rs 103.82 |
India's fuel consumption rises in October
Meanwhile, India's fuel consumption recorded a significant increase in October, reaching its highest level since March. According to data from the Petroleum Planning and Analysis Cell (PPAC) under the Oil Ministry, overall oil consumption climbed approximately 10% to 20.49 million metric tonnes in October, compared with 18.71 million metric tonnes in September. Consumption was also 2.7% higher than the corresponding period last year.
Diesel consumption registered a particularly sharp increase, rising 19% compared with September and 12% year-on-year. Gasoline sales also recorded a 3.5% annual increase. In contrast, LPG consumption declined by around 1% month-on-month to 2.52 million metric tonnes, marking a 12.3% drop compared with the previous year.
Crude oil prices remain volatile amid Middle East tensions
International crude oil prices edged higher on Friday amid concerns over a possible escalation of US military action against Iran. US President Donald Trump indicated that he would soon decide whether to pursue a peace agreement with Tehran or launch further military strikes.
Brent crude futures for January delivery settled at $98.32 per barrel, while US West Texas Intermediate (WTI) crude closed at $90.83 per barrel.
Despite Friday's gains, both benchmarks were heading towards substantial weekly losses, with Brent on track for a nearly 17% decline and WTI facing an approximately 13% drop.
