Petrol-Diesel Prices Today: Significant drop in crude oil prices; have petrol and diesel prices decreased? Find out what the new rates are..

Petrol-Diesel Prices Today: Crude oil prices have seen a sharp decline, driven by expectations that a potential conflict involving Iran might be averted following Trump's loss in the US midterm elections. The international benchmark, Brent crude, has fallen by approximately $8.98, bringing the price down to $94.62 per barrel. Meanwhile, state-owned oil marketing companies released the petrol and diesel rates for November 5 at 6:00 AM. Despite the drop in crude oil prices, these companies have not implemented any reductions in the retail prices of petrol and diesel.

Petrol and diesel prices remained stable today. According to the latest fuel rates in major cities across the country, the price of petrol in Delhi is ₹102.12 per litre, and diesel is ₹95.20 per litre.

In Hyderabad, the price of petrol is ₹115.69 per litre, and diesel is ₹103.82 per litre.

In Chennai, the price of petrol is ₹107.76 per litre, and diesel is ₹99.55 per litre.

In Mumbai, the price of petrol is ₹111.21 per litre, and diesel is ₹97.83 per litre.

In Bangalore, the price of petrol today is ₹110.82 per litre, while the price of diesel is ₹98.78 per litre.

Why don't petrol and diesel prices drop immediately when crude oil prices soften?

People often assume that if crude oil becomes cheaper in the global market today, petrol and diesel should also become cheaper by the next morning. However, this is not the case; there are several reasons for this.

The crude oil that becomes cheaper today is not delivered immediately. The oil currently arriving in India was purchased at prices and terms agreed upon months in advance—for instance, back in September or October. It takes until January or February for oil—purchased at lower prices today—to actually be delivered to India. Although state-owned oil marketing companies (IOCL, BPCL, HPCL) issue daily price updates, these are subject to a certain level of control. When oil was very expensive in the international market, these companies absorbed significant losses rather than raising the prices of petrol and diesel. Consequently, when prices fall, these companies prioritize recovering their accumulated past losses.

As per the city-wise data available for November 5, 2026, petrol prices are as follows:

City                     Petrol (₹/litre)

Delhi                                                                                                         ₹102.12

Mumbai                                                                                                           ₹111.21

Kolkata                                                                                                              ₹113.51

Chennai                                                                                                             ₹107.76

Bengaluru                                                                                                          ₹111.68

Hyderabad                                                                                                         ₹116.15

Gurugram                                                                                                           ₹102.97

As per the city-wise data available for November 5, 2026, diesel prices are as follows:

Diesel prices in major cities

City                                                                                                                    Diesel (₹/litre)

Delhi                                                                                                                      ₹95.20

Mumbai                                                                                                                 ₹97.83

Kolkata                                                                                                                  ₹99.82

Chennai                                                                                                                 ₹99.55

Bengaluru                                                                                                              ₹99.56

Hyderabad                                                                                                             ₹104.23

Gurugram                                                                                                                       ₹95.64

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