Fuel prices on 4 November: Check how much petrol, diesel, and CNG cost in Delhi, Mumbai, Bengaluru — Full list

Petrol and diesel prices remained largely stable across major cities on November 4 after the Centre cut the petrol export duty to zero and raised the diesel export levy. Meanwhile, global oil prices fluctuated as traders assessed mixed signals on US-Iran peace talks amid tensions in the Middle East.

Petrol and diesel prices today, November 4: Fuel prices across major cities remained largely stable on Wednesday, after the Central government slashed the additional excise duty applicable to petrol exports. According to a Finance Ministry notification, the revised structure took effect on 31 October, under which the export duty on petrol was cut to ₹0 per litre from ₹2.50 per litre.

While the export duty on petrol has been eliminated, the export levy on diesel has been hiked from ₹8.50 per litre to ₹11.50 per litre.

The variation in fuel prices across major cities and states is due to several factors, including local taxes (Value Added Tax or VAT), freight charges, and other localised factors. Global oil prices have fluctuated amid geopolitical tensions in the Middle East; despite this, domestic retail prices have continued to be unchanged.

Oil swings after two-day decline

Oil prices fluctuated on Tuesday (local time) following a two-day decline as traders weighed mixed signals on the trajectory of the US-Iran peace talks. West Texas Intermediate (WTI) traded near $97 a barrel after hovering in a range of around $5. Brent, on the other hand, closed below $104.

Citing a diplomat, Bloomberg reported that both Iran and the United States are still reviewing fresh proposals from mediators on how to resolve their differences. In a post on X, Iran’s national security chief said that Washington's response has so far been “not satisfactory.”

The latest diplomatic efforts come amid weeks of heightened tensions, with Tehran stepping up attacks on vessels transiting the Strait of Hormuz and US President Donald Trump warning of renewed strikes following the midterm elections. Earlier on Monday, oil prices fell on signs of progress; however, choppy trading returned on Tuesday.

Brent, the global benchmark, has climbed over 70% this year as the nine-month conflict disrupted flows from the Persian Gulf and upended energy markets. As a result, diesel and gasoline prices have also rallied, including in the US, potentially influencing the outcome of the midterms.

About the Author

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.