On October 19, you may check the current pricing for gasoline and diesel in Mumbai, Delhi, Kolkata, and other cities here

 On October 19, you may check the current pricing for gasoline and diesel in Mumbai, Delhi, Kolkata, and other cities here

Oil prices dropped on Thursday after rising by around 2% on October 18, as OPEC failed to endorse Iran's demand for an oil embargo on Israel and as the US prepared to loosen sanctions against Venezuela to enable more oil to flow internationally.

SUMMARY

Today's price of gasoline in Delhi is Rs 96.72 per litre after the daily modification by oil marketing firms.

Diesel costs Rs 92.76 per liter in Kolkata, while the price of gasoline is Rs 106.31.

The daily revision of the price of gasoline and diesel by public sector Oil Marketing Companies (OMCs) such as Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) is done in accordance with international benchmarks.

Prices for gasoline and diesel on October 19: On Thursday, October 19, the cost of gasoline and diesel remained the same in significant cities including New Delhi, Kolkata, Mumbai, and Chennai. Minor adjustments were made in several states.

The prices of gasoline and diesel are adjusted each day in accordance with worldwide benchmark pricing by public sector Oil Marketing Companies (OMCs), such as Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL). Petrol costs Rs 96.72 a litre in Delhi after the daily revision by oil marketing firms, while diesel costs Rs 89.62 per liter.

Diesel can be purchased in Mumbai for Rs 94.27 per liter, while gasoline costs Rs 106.31 per liter. Diesel costs Rs 92.76 per liter in Kolkata, while the price of gasoline is Rs 106.31. In Chennai, the cost of gasoline is Rs 102.63 a liter, while the cost of diesel is Rs 94.24 per liter.

In several states, the gasoline costs have changed as a result of government oil businesses. Petrol is now available in Noida at Rs 96.92 per liter, an 8-paise decrease. The price of fuel has decreased by 5 paise to Rs 89.71 for a litre.

In Maharashtra, the cost of gasoline has increased by 18 paisa while the cost of diesel has increased by 21 paisa. Diesel has also decreased in price by 26 paise and gasoline by 28 paise in Himachal Pradesh at the same time.

For major cities, see the most recent pricing chart below:

Bengaluru

Petrol: 101.94 rupees

Petrol: Rs. 87.89

Chandigarh

Gas: Rs 98.65

Benzene: Rs 90.05

Chennai

Petrol: 102.86 rupees

Petrol: Rs. 94.46

Gurugram

Rs 96.66 for gasoline

Petrol: Rs. 89.54

Kolkata

Petrol: 106.03 rupees

Gasoline: Rs 92.76

Lucknow

Gas: Rs 96.57

Petrol: Rs. 89.76

Mumbai

Petrol: 106.31 rupees

Petrol: Rs. 94.27

Delhi, India

Gas: Rs 96.92

Petrol: Rs. 89.62

Gautam Buddha Nagar in Noida

Petrol: 97 rupees

Petrol: Rs. 89.71

Ghaziabad

Gasoline: Rs 96.58

Petrol: Rs. 89.75

Costs of crude oil

Due to the unpredictability of the conflict between Israel and Hamas, the world's oil markets are uneasy. Oil prices dropped on Thursday after rising slightly to a two-week high on October 18 due to OPEC's apparent lack of support for Iran's proposal for an oil embargo on Israel and U.S. intentions to loosen sanctions on Venezuela to enable more oil to flow internationally.

December Brent futures dropped 74 cents to $90.76 per barrel. The November contract for US West Texas Intermediate (WTI), which expires on Friday, fell 57 cents to trade at $87.75 a barrel.

Indian markets were shaken by the geopolitical tensions in the Middle East caused by the growing conflict between Israel and Hamas as investors grew risk averse and pummeled companies at whim. According to Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd., the market is more worried about rising crude oil prices since they might affect inflation and perhaps cause interest rates to stay higher in the short- to medium-term.

"The bad feeling is expected to persist as long as the index is trading below 19800 and might decline as far as 19600-19575. On the other hand, if the index overcomes the intraday resistance of 19720, a little retracement bounce is probable, and beyond that, we might see one swift intraday rise till 19780," Chouhan added.