Global Oil Market Sees Continued Price Fluctuations
The global oil market continues to experience significant fluctuations, with crude oil prices surpassing the $80 per barrel mark. These changes in crude oil prices play a crucial role in determining the cost of petrol and diesel across nations. Despite the global shifts, India has maintained stable fuel prices at the national level for an extended period. On Tuesday, there were no changes in the prices of petrol and diesel, although some minor variations were observed at the state level.
Crude Oil Prices: A Closer Look
As of now, Brent crude is trading at $80.75 per barrel, while WTI crude stands at $78.63 per barrel. These prices reflect the ongoing volatility in the global oil markets, driven by a combination of geopolitical tensions, supply constraints, and fluctuating demand. The global crude oil market remains sensitive to these factors, influencing the pricing strategies of government oil companies.
Petrol and Diesel Prices Across Indian Metros
Despite the rise in international crude oil prices, government oil companies in India have opted to keep fuel prices unchanged in major metropolitan areas. This decision aligns with the government’s strategy to cushion consumers from the direct impact of global market shifts.
Delhi
In Delhi, the price of petrol remains steady at ₹96.72 per liter, while diesel continues to be sold at ₹89.62 per liter. The capital city has not witnessed any change in fuel prices for several months, providing a degree of consistency for consumers.
Mumbai
Mumbai, known for its higher fuel prices compared to other metros, maintains petrol prices at ₹106.31 per liter and diesel at ₹94.27 per liter. The stability in prices here reflects the broader trend of unchanged fuel costs at the national level.
Chennai
In Chennai, petrol prices stand at ₹102.63 per liter, with diesel priced at ₹94.24 per liter. The southern metropolis also benefits from the government’s decision to keep fuel prices consistent.
Kolkata
Kolkata sees petrol priced at ₹106.03 per liter and diesel at ₹92.76 per liter. The pricing pattern in Kolkata is aligned with other major cities, demonstrating a nationwide effort to maintain price stability.