Petrol-Diesel Prices: Global crude oil rates have dropped significantly since the de-escalation of tensions between the US and Iran. Consequently, there is now an expectation that petrol and diesel prices in India might decrease. However, prices in most Indian cities remain sky-high, straining the budgets of ordinary citizens.
Indian petroleum companies had previously dealt a major blow by repeatedly hiking petrol and diesel prices. In Delhi, petrol is currently priced at ₹102.12 per litre, while diesel stands at ₹95.20 per litre. Meanwhile, the government has issued a significant statement regarding when these rates might come down.
Find out when petrol and diesel prices will drop.
Hardeep Puri, the Union Minister for Petroleum and Natural Gas, provided a major update on fuel prices. Speaking on Thursday, he stated that there would be no immediate hike in petrol and diesel prices. He further added that the government has effectively managed the impact of rising international crude oil prices.
However, he gave a non-committal response regarding when prices might actually decrease. When asked, the Union Minister explained that the impact of global price fluctuations is not immediately reflected in fuel prices at the retail level. He attributed this lag to the time required for procurement, transportation, and refining.
He noted that the petrol and diesel currently being sold at fuel stations were produced from crude oil purchased two months ago, a time when prices had surged significantly. He added that if the current global situation persists, a decision would be taken following a review.
Nayara lowers prices
Nayara Energy has brought good news to customers by reducing petrol and diesel prices. Due to tensions in the Middle East, Nayara Energy had previously raised prices by ₹5 per litre for petrol and ₹3 per litre for diesel on March 26. Subsequently, state-owned oil marketing companies had also hiked petrol and diesel prices by up to ₹7.50 per litre in May. This came as a major shock to the general public.
Check petrol and diesel prices in major cities
In New Delhi, the price of petrol is recorded at ₹102.12 per litre, while diesel is at ₹95.20 per litre.
In Mumbai, petrol is priced at ₹111.21 per litre, and diesel is trending at ₹97.83 per litre.
In Kolkata, the rate for petrol is ₹113.51 per litre, and the price of diesel is ₹99.82 per litre.
In Ahmedabad, petrol is at ₹101.70 per litre, and diesel is at ₹97.84 per litre.
In Chennai, the price of petrol is ₹107.77 per litre, while diesel is trending at ₹99.55 per litre.
