Petrol, diesel prices on 7 November: Check how much fuel costs in Delhi, Mumbai, Bengaluru, Kolkata — Full list

Petrol and diesel prices remained largely unchanged across Indian cities on November 7 despite fluctuations in global crude oil rates amid tensions in the Middle East. Meanwhile, India's fuel consumption surged in October to its highest level since March 2026.

Petrol and diesel prices today, November 7: Petrol and diesel prices remained unchanged in most cities on Saturday after the Centre reduced the additional excise duty on petrol exports. The Finance Ministry recently notified a revised duty structure that took effect on October 31. Under the new structure, the export duty on petrol was reduced from ₹2.50 per litre to zero.

While the export duty on petrol was scrapped, the levy on diesel was increased from ₹8.50 per litre to ₹11.50 per litre.

Fuel prices vary across major cities and states largely due to factors such as local taxes, including Value Added Tax (VAT), freight charges and other local considerations. Although geopolitical tensions in the Middle East have led to fluctuations in global oil prices, domestic retail fuel rates have largely remained unchanged, offering some relief to consumers.

*Source: Goodreturns

India's October fuel demand hits highest level since March

According to a Reuters report, India's oil consumption rose by around 10% in October to 20.49 million metric tonnes from 18.71 million tonnes in September, marking its highest level since March 2026. Data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry showed that consumption was also 2.7% higher than in October last year.

Diesel consumption increased by 19% in October compared with the previous month and was up 12% year-on-year. Gasoline sales rose 3.5% from the corresponding month last year.

Liquefied petroleum gas (LPG) consumption, meanwhile, declined by nearly 1% in October to 2.52 million metric tonnes compared with September. It was also down around 12.3% from a year earlier.

Overall, fuel consumption increased by 6.4% from September.

Mangalore Refinery and Petrochemicals Ltd (MRPL) is increasing its crude oil purchases on a delivered basis to reduce its exposure to shipping risks arising from the Iran war and lower freight costs, its head of finance said on Wednesday.

Crude prices edge higher on fears of renewed US attacks on Iran

Oil prices posted modest gains late Friday amid renewed concerns over a possible escalation of US military action against Iran. US President Donald Trump said he would soon decide whether to pursue a peace agreement with Tehran or launch further attacks to destroy what remains of the country.

Brent crude futures for January delivery settled at $98.32 per barrel, up 3 cents, or 0.03%. US West Texas Intermediate (WTI) crude futures ended at $90.83 a barrel, gaining 31 cents, or 0.34%.

Despite Friday's marginal gains, Brent is on course for a weekly decline of around 17%. If sustained, this would mark its steepest weekly percentage fall since the onset of the COVID-19 pandemic and its biggest decline in absolute terms, according to LSEG data dating back to 1988.

WTI is also heading for a weekly decline of around 13%.

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Swati Gandhi is a digital journalist with over four years of experience, specialising in international and geopolitical issues. Her work focuses on foreign policy, global power shifts, and the political and economic forces shaping international relations, with a particular emphasis on how global developments affect India. She approaches journalism with a strong belief in context-driven reporting, aiming to break down complex global events into clear, accessible narratives for a wide readership.<br><br> Previously, Swati has worked at Business Standard, where she covered a range of beats including national affairs, politics, and business. This diverse newsroom experience helped her build a strong grounding in reporting, while also strengthening her ability to work across both breaking news and in-depth explanatory stories. Covering multiple beats early in her career has helped her be informed about her current work, allowing her to connect domestic developments with wider international trends.<br><br> At Live Mint, she focuses on international and geopolitical issues through a business and economic lens, examining how global political developments, foreign policy decisions, and power shifts impact markets, industries, and India’s strategic and economic interests.<br><br> She holds a Bachelor’s degree in English (Honours) from the University of Delhi and a Master’s degree in Journalism and Mass Communication from Guru Gobind Singh Indraprastha University. Her academic training has shaped her emphasis on precision, analytical rigour, and clarity in writing. Her interests include global political economy and the intersection of geopolitics with business.<br><br> Outside work, Swati focuses on exploring her passion and love for food. From fancy cafes to street spots, Swati explores food like a true foodie.