Petrol And Diesel Prices Today: Mostly Steady For Most Cities On April 17

The petrol and diesel prices on April 17 were steady for most cities in India despite rising international crude oil prices by about $4 per barrel, revealed industry data.

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Petrol And Diesel Prices In Major Cities

Retail fuel prices at state-run outlets showed limited movement across key cities as of the latest update.

As per the price data available publicly, the prices of petrol in New Delhi and Kolkata have stayed constant at ₹94.77 per litre and ₹105.41 per litre, respectively. Mumbai witnessed an increase of ₹0.04 to ₹103.54 per litre, whereas Chennai experienced a decrease in the petrol prices of ₹0.10 to ₹100.80 per litre.

Some other cities have also made slight changes. The prices of petrol in Noida have been decreased by ₹0.16 to ₹94.74 per litre, and that of petrol in Gurugram is ₹0.04 lower than the previous prices, which are now ₹95.44 per litre. Bangalore has seen a decrease in the prices of petrol by ₹0.07 to ₹102.92 per litre, whereas that of Bhubaneswar has been reduced by ₹0.22 per litre to ₹100.97.

Global Crude Oil Movement

Crude oil prices moved higher in the international market, rising by about $4 per barrel on April 17, as negotiations between the U.S. and Iran showed limited progress. Rise in the price of crude oil can be attributed to the recent developments that have occurred due to the geopolitical events that have taken place in the West Asian region.

Domestic Fuel Price Context

The costs of fuels within India are updated on a daily basis, depending on the cost of crude oil in the international market and also on the behaviour of the Indian currency, the rupee. Even with an increase in the global prices of crude oil, domestic prices have remained constant with little fluctuation from city to city.

The Indian nation is still heavily reliant on oil imports for meeting its fuel needs, hence making domestic prices vulnerable to changes in the international market. Published reports show that fuel prices in India have remained in a tight band even with fluctuations in the international market.

Recent price trends indicate stability in domestic fuel prices despite ongoing volatility in international crude oil prices.