Petrol And Diesel Prices Stay Stable On April 20: Know Rates In Major Indian Cities

The prices of petrol and diesel in the major cities of India stayed stable on April 20, continuing with the existing trend of stable fuel prices in India, according to the latest figures released by government-owned oil marketing firms.

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The price of the two fuels is revised daily by the oil companies Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited depending upon the movement in crude oil prices and foreign currency.

Petrol And Diesel Prices In Major Cities

Fuel prices in Mumbai, Kolkata, and Chennai continue to remain above ₹100 per litre for petrol, while diesel prices across metros are below ₹100 per litre.

No Change Despite Global Volatility

Retail fuel prices have remained stable even as global crude oil markets witnessed intermittent fluctuations. Oil companies align domestic fuel rates with international benchmarks and currency movements, but no revisions have been recorded so far.

According to official data from oil marketing companies, petrol in Delhi continues at ₹94.77 per litre and diesel at ₹87.67 per litre. Mumbai continues to have the highest fuel prices among the four metros.

Price Revision Mechanism

In India, the fuel prices are revised on a daily basis, taking into account the global crude oil prices and the exchange rate of the Indian Rupee vis-à-vis the American Dollar. Taxes imposed by the national government and state government, costs of transport, and commission charges to dealers are other elements affecting prices.

India needs to import crude oil for some of its needs. Thus, changes in international market forces impact the price of fuels in the country.

Retail Fuel Prices Remain Stable

Notwithstanding shifts in the global energy sector, retail fuel prices have remained unchanged over the past few years. In May 2022, there was a notable adjustment due to reduced excise duties by the central government and tax reductions in various states.

Following an announcement by oil firms on April 20 that there would be no revision in fuel prices, prices will likely continue to be stable.