Last Updated:October 31, 2024, 08:11 ISTStay updated with the latest petrol and diesel prices in Mumbai, other cities for October 31, 2024. Discover the current rates per litre and understand the factors influencing daily fuel prices.Petrol and diesel prices on October 31Petrol, Diesel Prices Today On October 31, 2024: Every day at 6 a.m., oil marketing companies (OMCs) announce the price of petrol and diesel, maintaining consistency despite these commodities’ inherent volatility. The OMCs adjust prices in response to global crude oil prices and fluctuations in foreign exchange rates, ensuring consumers are always informed about the latest fuel costs.Petrol Diesel Price Today In IndiaCheck city-wise petrol and diesel prices on October 31:CityPetrol Price (Rs/litre)Diesel Price (Rs/litre)Delhi94.7287.62Mumbai103.4489.97Chennai100.8592.44Kolkata103.9490.76Noida94.6687.76Lucknow94.6587.76Bengaluru102.8688.94Hyderabad107.4195.65Jaipur104.8890.36Trivandrum107.6296.43Bhubaneswar101.0692.91Factors Affecting Petrol And Diesel Prices In India Crude oil price: The primary raw material for the production of petrol and diesel is crude oil; as such, its price directly influences the ultimate cost of these fuels.The exchange rate between the Indian rupee and the US dollar: As a major importer of crude oil, India’s petrol and diesel prices are also influenced by the exchange rate between the Indian and US dollar.Tax: Various taxes on petrol and diesel are imposed by both the central and state governments. These taxes may differ across states, exerting a notable influence on the ultimate prices of petrol and diesel.The cost of refining:The final price of petrol and diesel is additionally influenced by the expenses incurred in refining crude oil into these fuels. The refining process can be costly, and the refining expenses may fluctuate based on factors like the type of crude oil utilised and the refinery’s efficiency.The demand for petrol and diesel: The demand for petrol and diesel can also affect their prices. If demand for these fuels increases, it can lead to higher prices.Know the price of petrol and diesel through SMSYou can also find out the latest petrol and diesel prices in your city through SMS. If you are a customer of Indian Oil, then you will have to write RSP along with the city code and send it to 9224992249. If you are a customer of BPCL, then you can get information about the new price of petrol and diesel by writing RSP and sending it to 9223112222. Whereas, if you are a customer of HPCL, then you can find out the price of petrol and diesel by writing HP Price and sending it to 9222201122.News business Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On October 31