Fuel prices remain a significant concern for consumers and businesses alike, influencing household budgets and overall economic stability. Here's a look at the latest petrol and diesel prices across major cities as of October 31, 2025.

Current Fuel Rates in Major Cities

As of today, October 31, 2025, petrol and diesel prices in major Indian cities are as follows:

• Delhi: Petrol is priced at Rs 96.72 per liter, while diesel is selling at Rs 89.62 per liter.
• Mumbai: Petrol costs Rs 106.31 per liter, and diesel is available at Rs 94.27 per liter.
• Kolkata: Petrol is priced at Rs 106.03 per liter, and diesel is selling at Rs 92.76 per liter.
• Chennai: Petrol is priced at Rs 102.86 per liter, and diesel is available at Rs 94.46 per liter.
• Bengaluru: Petrol is at Rs 101.94 per liter, while diesel is at Rs 87.89 per liter.
• Lucknow: Petrol is retailing at Rs 96.47 per liter, and diesel is priced at Rs 89.72 per liter.

Slight variations can be observed in other cities like Gurugram, where petrol is priced at Rs 96.71 and diesel at Rs 89.59. In Noida, petrol is slightly higher at Rs 97.00, and diesel is at Rs 89.76.

Factors Influencing Fuel Prices

Several factors contribute to the fluctuating prices of petrol and diesel. These include:

• Crude Oil Prices: Global crude oil prices play a crucial role in determining domestic fuel prices. Brent crude futures, a global benchmark, have recently shown an increase.
• Excise Duty and Taxes: The central and state governments impose excise duty and VAT (Value Added Tax) on fuel, which significantly impacts the final price.
• Rupee-Dollar Exchange Rate: The exchange rate between the Indian Rupee and the US Dollar influences the cost of importing crude oil.
• Geopolitical Factors: Global events, such as the Israel-Hamas war, and supply disruptions can affect crude oil prices and, consequently, fuel prices.
• Market Dynamics: Supply and demand dynamics, along with seasonal patterns, also play a role in shaping fuel prices.

Recent Trends and Analysis

The US Retail Diesel Price is currently at $3.718, showing an increase from both the previous week and the previous year. Gasoline prices have also seen some changes, with prices rising to $1.98 USD/Gal on October 30, 2025.

Impact on Consumers and Economy

Changes in fuel prices have a cascading effect on the economy. Rising fuel costs can lead to increased transportation costs, which, in turn, can drive up the prices of essential commodities. This can contribute to inflationary pressures, affecting household budgets and potentially leading to higher borrowing costs.

Expert Predictions

Analysts expect gasoline to trade at $1.95 USD/GAL by the end of the current quarter and estimate it to trade at $2.11 in 12 months. Diesel prices are also expected to fluctuate, influenced by market demand and supply dynamics.

Historical Context

Historically, fuel prices have seen significant fluctuations. For instance, average petrol and diesel prices in the UK hit record highs in the summer of 2022, with petrol reaching 191.5p per liter and diesel at 199.09p per liter. These fluctuations highlight the volatility of the global oil market and its impact on local fuel prices.