Petrol And Diesel Prices Unchanged On April 6 As Crude Oil Rises Above $110 Per Barrel

Petrol and diesel prices remained unchanged across major Indian cities on April 6, even as global crude oil prices climbed sharply following renewed tensions between the U.S. and Iran.

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Fuel Prices In Major Cities

According to state-run oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation, retail fuel rates were stable across cities.

Prices have remained steady despite volatility in global energy markets.

Industrial Fuel And LPG Price Changes

Oil marketing companies increased the price of bulk industrial diesel by ₹28.22 per litre, or 25%, to ₹137.81 per litre, applicable to high-speed diesel supplied to commercial and industrial users.

Commercial LPG prices were also raised by ₹195.50 per 19-kg cylinder on April 1, taking the price in Delhi to ₹2,078.50, according to data from state-run companies. Domestic LPG prices remain unchanged at ₹913 per 14.2-kg cylinder in Delhi, as per PTI.

Global Crude Oil Movement

Global oil prices surged after U.S. President Donald Trump issued warnings linked to the Strait of Hormuz. Prices of Brent crude surpassed $110 per barrel, while West Texas Intermediate crude hovered around $113 per barrel, amid fears about disruption in supply.

The Strait of Hormuz is an important channel through which oil is exported globally, and any limitation in shipping activities has raised worries about supply issues.

Pricing Mechanism And Policy Measures

Fuel cost in India is dependent upon the cost of crude oil as well as the conversion factor of rupee into dollars, according to the industry figures. Taxes, such as excise duties and VAT, play a major role in determining prices at the retail level.

As a latest move, the oil marketing companies have changed the pricing system within their refineries to control costs due to stagnation in fuel retail prices, as per the information obtained from markets.

Furthermore, the government has allowed the selling of subsidised kerosene from selected fuel stations for a temporary period.

Fuel prices continue to remain stable at the retail level despite rising global crude oil costs and ongoing geopolitical developments affecting energy markets.