The load i.e. 1.17 is caused by processes running on the server. The server load can be anything from 0.00 to 100 or even more depending upon the processes running on the server. With root access you can simply SSH to your server & run the command 'top'. This command will give to clear view of the load & it will also show the cpu usage on the server.
I have just taken a look at your VPS. I did not find anything unusual running on the server. So, you can be rest assured. The 8 CPU's that you see there applies for the main node your VPS is located on.
The 8 cpu are the 8 "Processors" running on the main hardware node on which your vps is hosted. The load 2.45 is the average load created on your vps by all the running processes like apache, mysql, mails, cpanel & others. The load 2.45 is not the part of your cpu. The 8 cpu that you see in your WHM are the running cpu's on the main node & all the vps on the node are sharing these cpu & there is no specific amount of cpu assign to a vps. If you want to check the cpu usage on your vps, you can check it from WHM >> System Health >> Show Current CPU Usage, here you will see cpu usage of each process in real time.
Thanks BODSam for the all this explaination, I really appreciate !
The root problem is that when the load increases on my VPS, like shown in the pic, the DNS goes down and the sites become inaccessible and this happens when I have gone to sleep after 09:30 pm Indian Std. Time. When I wake up to see the server down, its a HUGGGEEEEE PAIN in my a**
If I'm awake at nights, which I have to & if I see this mess, I restart the DNS and things get under control.