Fuel Prices Surge Across India Despite Declining Crude Oil Rates

by Yuki

Retail prices for petrol and diesel saw a significant increase in various cities across India on Thursday, with notable changes reported from Uttar Pradesh to Rajasthan. This surge in fuel prices comes even as global crude oil prices have experienced a decline.

Government oil companies announced new rates for petrol and diesel on Thursday morning, indicating no change in fuel prices for the four major metropolitan cities: Delhi, Mumbai, Chennai, and Kolkata.

Recent Changes in Fuel Prices:

Gautam Buddh Nagar (Noida and Greater Noida, Uttar Pradesh):

  • Petrol prices rose by 18 paise, now costing Rs 95.01 per liter.
  • Diesel also increased by 18 paise, reaching Rs 88.14 per liter.

Ghaziabad, Uttar Pradesh:

  • Petrol prices decreased by 6 paise to Rs 94.65 per liter.
  • Diesel prices fell by 7 paise, now at Rs 87.75 per liter.

Sikar, Rajasthan:

  • Petrol prices surged by 82 paise, now priced at Rs 106.17 per liter.
  • Diesel prices rose by 74 paise, reaching Rs 91.52 per liter.

Despite the rising prices at the retail level, crude oil prices have slightly dropped over the past 24 hours. The cost of Brent crude is currently at USD 75.41 per barrel, while West Texas Intermediate (WTI) has decreased to USD 71.25 per barrel.

Fuel Prices in Major Cities:

Delhi: Petrol is priced at Rs 96.65 per liter; diesel is Rs 89.82 per liter.

Mumbai: Petrol costs Rs 106.31 per liter; diesel is Rs 94.27 per liter.

Chennai: Petrol is Rs 102.63 per liter; diesel is Rs 94.24 per liter.

Kolkata: Petrol is priced at Rs 106.03 per liter; diesel is Rs 92.76 per liter.

These fluctuations in fuel prices reflect the ongoing volatility in the oil market, affecting consumers across the nation.

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