Daily Fuel Price Check: Fresh Rates for Petrol and Diesel on October 24

Commuters and transport operators across India woke up to the latest fuel price revisions this morning. Oil Marketing Companies (OMCs) have announced the fresh rates for petrol and diesel, effective from 6:00 AM on October 24, 2025. While the prices in major metropolitan centres largely showed stability, several smaller cities and regional markets saw minor fluctuations, reflecting the dynamic nature of global crude oil costs and the intricacies of the domestic tax structure.

The daily revision of fuel prices is a standard practice in India, where rates are aligned with international crude oil benchmarks and the rupee-dollar exchange rate. Furthermore, state-specific Value Added Tax (VAT) and local levies introduce significant differences in the final retail price across various cities.

Rates in Major Metropolitan Areas

The four main metro cities reported the following per-litre rates today, October 24:

It is noteworthy that prices in the major metros have remained consistent over the last several days, offering a slight predictability to large-scale consumers.

Price Movement in Other Key Cities

Outside the main metros, variations were observed, with some cities experiencing minor hikes or marginal decreases in line with local market and logistical factors:

• Bengaluru: Petrol continues to retail at around ₹102.92/Litre, with the diesel rate at approximately ₹90.99/Litre, maintaining yesterday’s rates.
• Hyderabad: Fuel prices here remain among the highest, with petrol at about ₹107.46/Litre and diesel at ₹95.70/Litre.
• Lucknow: A marginal change was noted, with petrol priced at approximately ₹94.73/Litre and diesel at ₹87.86/Litre.
• Jaipur: Petrol costs around ₹104.72/Litre, and diesel is priced at about ₹90.21/Litre, also showing stability.
• Chandigarh: Maintaining its position with relatively lower prices compared to other major cities, petrol is at ₹94.30/Litre and diesel at ₹82.45/Litre.

Understanding the Daily Price Mechanism

The retail price of fuel that consumers pay at the pump is a composite figure determined by multiple elements:

1. Crude Oil Cost: The international price of crude oil, which is traded in US dollars, is the foundational cost.
2. Exchange Rate: The rupee-dollar exchange rate directly impacts the import cost of crude oil.
3. Central Excise Duty: A fixed tax levied by the Central Government.
4. State VAT (Value Added Tax): This is the primary component causing price disparity between states, as it is levied by state governments and varies significantly.
5. Dealer Commission: The margin paid to the fuel pump operators.
6. Transportation Costs: The cost of moving the refined fuel from refineries to distribution centres and ultimately to the petrol pumps.

Any small shift in the international price of crude oil or the currency exchange rate can result in the subtle, daily revisions witnessed in local markets across the country. Consumers are advised to check the exact rates in their specific location either via the mobile apps of the respective oil companies, their SMS services (like sending an SMS to 92249 92249 with the code RSP $\langle$Dealer Code$\rangle$), or by checking the price boards at the fuel station before filling up.