Petrol And Diesel Prices Hold Steady On April 24 Amid Government Clarification

The prices of petrol and diesel remained steady on April 24. It was made clear by the Ministry of Petroleum and Natural Gas that there were no plans for any increase in the prices of fuels such as petrol and diesel despite rising international crude oil prices. In the national capital, petrol costs ₹94.77 per litre and diesel ₹87.67 per litre.

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Fuel Prices In Major Cities

According to official fuel price data, minor changes were recorded in select cities. Petrol prices in Kolkata rose by ₹0.04, while Chennai saw a decline of ₹0.13. Gurgaon petrol prices fell by ₹0.37 and Noida by ₹0.16. On the diesel front, Chennai recorded a ₹0.13 decline, while Gurgaon saw a ₹0.36 increase.

Government Statement On Fuel Prices

The Ministry of Petroleum and Natural Gas said in a statement on April 24 that there is no immediate plan to revise retail fuel prices. The ministry added that state-run oil marketing companies are currently incurring losses of around ₹20 per litre on petrol and about ₹100 per litre on diesel as prices remain unchanged for nearly four years.

Global Oil Prices And Supply Concerns

The prices for crude oil were high, with Brent crude exceeding $103 per barrel on April 24. This rise is due to the disturbance in the shipping of oil through the Strait of Hormuz, which is the major transit route for more than 20% of the world's oil shipments.

Some recent geopolitical activities have led to disturbances in oil shipments, hence causing an increase in crude oil prices. Brent crude had earlier risen from around $70 per barrel to as high as $119 before moderating, and is currently trading in the range of $103–$106 per barrel.

Despite a more than 50% rise in global crude prices, domestic petrol and diesel prices have remained largely unchanged, according to government data.

LPG Prices

Commercial LPG prices were last revised on April 1, with a 19-kg cylinder priced at ₹2,078.50 in Delhi. Domestic LPG rates remain unchanged at ₹913 for a 14.2-kg cylinder, as per data from state-owned oil companies.

Fuel prices continue to remain stable across cities, even as global oil markets show volatility and supply concerns persist.