Petrol And Diesel Rates Steady On April 28 Despite Rising Crude Oil Prices

There was no change in the petrol and diesel rates in important Indian cities on April 28, as per the information provided by state-owned oil marketing firms. The pause in price movement comes despite sustained strength in global crude oil markets.

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In Delhi, petrol continues to retail at ₹94.77 per litre and diesel at ₹87.67 per litre. Mumbai is still one of the most expensive cities, with petrol costing ₹103.54 per liter and diesel costing ₹90.03 per liter.

Fuel Rates Across Major Cities

Global Oil Prices Remain Elevated

Brent crude for June settlement was steady at $108.23 per barrel, while the July contract traded at $101.95. U.S. West Texas Intermediate crude for June delivery rose 0.3% to $96.65, according to market data.

The firmness in crude prices follows continued disruption in the Strait of Hormuz. The International Energy Agency says that traffic on the route, which usually carries almost 20% of the world's oil and LNG shipments, has dropped sharply because of ongoing tensions.

LPG Prices And Recent Revisions

Commercial LPG prices were last revised on April 1, when rates were increased by ₹195.50 per 19-kg cylinder. In Delhi, a commercial cylinder now costs ₹2,078.50, as per oil companies. The previous revision on March 1 had seen a hike of ₹114.5 per cylinder.

Domestic LPG prices have remained unchanged since March 7, when rates were increased by ₹60 per 14.2-kg cylinder. In Delhi, the current price stands at ₹913 per cylinder, according to PTI.

What Determines Fuel Prices In India

Fuel pricing in India is determined by various elements, such as the cost of crude oil on the global market, the Indian rupee to US dollar exchange rate, and taxation by central and state governments. This is due to the fact that a significant portion of crude oil needs in India are met via imports. Central excise duty and value-added taxes in states add a lot to the cost of fuels.

As international prices for crude remain steady with continuing worries about availability, there is great focus on local fuel prices.