Petrol And Diesel Prices On April 30: Government Rejects Viral Claims Of Fuel Price Hike

Petrol and diesel prices remained stable across most Indian cities on April 30, even as the government dismissed viral social media claims suggesting a sharp increase in fuel prices.

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The Press Information Bureau’s Fact Check unit said the viral document claiming a ₹10 per litre increase in petrol prices and a ₹12.50 per litre increase in diesel prices is fake. The agency clarified that no such notification has been issued by the Ministry of Petroleum and Natural Gas.

“The Government of India has not issued any such order,” PIB Fact Check said in its statement. Fuel prices across the country saw either no revision or only marginal city-wise changes despite continued volatility in international crude oil prices.

Petrol And Diesel Prices In Major Cities On April 30

Crude Oil Prices Stay Elevated

International oil prices have been high due to geopolitical issues that arose between the United States, Israel, and Iran earlier in the year.

The Strait of Hormuz, one of the most important routes for international oil transportation, is still under threat due to the war in West Asia. This water passage accounts for about 20% of the world's oil transport and LNG transfers.

Brent crude prices had climbed from nearly $70 per barrel earlier this year to around $119 per barrel after tensions escalated. Prices later moderated but continue to trade in the range of $103-106 per barrel.

India imports a significant share of its crude oil requirement, making domestic fuel pricing sensitive to international crude prices and currency fluctuations.

Fuel Rates Continue To Remain Stable

Petrol and diesel prices in India are updated on a daily basis depending on the international crude oil prices and the cost of transportations along with taxes and dollar-rupee rates. Even though the international oil prices have been high, fuel prices in some cities in India have remained unchanged recently.

Small variations in prices in different cities depend on the taxation system and the cost of transportation. Clarification from the government regarding the viral fuel price story has been issued, considering the recent concern about fuel prices.