Fuel Prices Today On 8 November: Check How Much Petrol, Diesel Cost In Delhi, Bengaluru, Mumbai, Chennai - Full List

(MENAFN- Live Mint) Fuel prices today, November 8: Petrol and diesel prices remained largely unchanged on Sunday (November 8) across most major cities, including New Delhi, Bengaluru, Chennai and Mumbai. However, minor fluctuations were observed in some other cities, such as Gurugram.

Fuel prices have remained largely stable, with only marginal fluctuations, over the past two months. Last month, the Finance Ministry announced a revised duty structure, which came into effect on October 31. Under the revised structure, the export duty on petrol was reduced to zero from ₹2.50 per litre. However, the levy on diesel was increased from ₹8.50 per litre to ₹11.50 per litre.

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While tensions in the Middle East have triggered fluctuations in global oil prices, Indian fuel retailers have largely kept domestic petrol and diesel rates unchanged. This has shielded consumers from the impact of international price movements, offering some relief amid a period of geopolitical turmoil and uncertainty.

Fuel prices generally vary across cities and states due to factors such as freight charges, local taxes, including Value Added Tax (VAT), and other regional considerations.

Check the latest petrol and diesel prices in your city on November 8:

*Source: Goodreturns

India's October fuel demand soars to its highest level since March

India's oil consumption rose by around 10% in October to 20.49 million metric tonnes, compared with 18.71 million metric tonnes in September, marking its highest level since March this year. Citing data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry, Reuters reported that October consumption was 2.7% higher than in the same month last year.

Diesel consumption surged 19% in October compared with September, while recording a 12% increase year-on-year. Gasoline sales also rose 3.5% from the corresponding period last year.

Meanwhile, liquefied petroleum gas (LPG ) consumption declined marginally by around 1% in October to 2.52 million metric tonnes compared with September. It was also down approximately 12.3% from a year earlier.

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Oil prices edged higher on Friday (local time) amid concerns over a possible escalation of US military action against Iran. US President Donald Trump said he would soon decide whether to pursue a peace agreement with Tehran or launch further strikes to weaken the Islamic Republic.

Brent crude futures for January delivery settled at $98.32 per barrel, gaining 3 cents, or 0.03%. Meanwhile, US West Texas Intermediate (WTI ) crude futures ended at $90.83 per barrel, up 31 cents, or 0.34%.

However, both benchmarks remained on track for significant weekly losses. Brent crude was poised to record a decline of nearly 17% for the week. If sustained, this would mark its steepest weekly percentage fall since the onset of the COVID-19 pandemic and its biggest decline in absolute terms, according to LSEG data dating back to 1988.

WTI crude was also heading for a weekly decline of approximately 13%.

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