Petrol, diesel price today: Bad news on first day of the month! Here's the Big update on price of petrol and diesel

New Delhi: Contrary to widespread speculations that there would be change in the price of petrol and diesel, fuel prices were not slashed by the oil marketing companies as was expected on the first day of the month. The new rates as is being published by OMCs every day at 6 am, there was no reduction in price of petrol and diesel.

Yesterday, several media had reported that the prices of petrol and diesel would be slashed by 40 paise per litre. The new prices will be effective from 6 a.m. on Tuesday, November 1.

On Monday, the cost of petrol in the national capital was Rs 96.72, Rs 106.03 in Kolkata, Rs 106.31 in Mumbai and Rs 102.63 in Chennai.

The drop in prices was expected as international crude oil prices dropped and have remained stable for some time. The crude oil price has remained below 95 dollars per barrel for some time now.

Had the OMCs announced a price cut in diesel and petrol, the drop in fuel prices would have come after more than six months of holding steady. The last reduction in price was on April 7 this year.