Fuel Prices Remain Steady Across Major Cities in India
New Delhi: Fuel prices across the India remained stable on April 18, offering the temporary relief to consumers despite ongoing volatility in global crude oil markets. The pause comes at a time when international oil prices are facing pressure due to geopolitical tensions in West Asia and disruptions in key shipping routes.
In the national capital, petrol continues to be priced at ₹94.77 per litre , while the diesel stands at ₹87.67 per litre. Mumbai remains among the costliest metros, with petrol retailing at ₹103.50 per litre and diesel at ₹90.03 per litre.
Other major cities are also witnessing the elevated fuel costs. In Hyderabad, petrol is priced at ₹107.50 and diesel at ₹95.70 per litre. Kolkata records petrol at ₹105.41 and diesel at ₹92.02, while the Bengaluru sees petrol at ₹102.96 and diesel at ₹90.99. Chennai’s fuel prices stand at ₹100.90 for petrol and ₹92.49 for diesel. Notably, petrol prices in several of these cities continue to remain above the ₹100 mark.
The current stability in fuel prices is being observed amid heightened political sensitivity, particularly with state elections on the horizon. Historically, fuel price revisions tend to slow down or pause during such periods, as governments aim to avoid burdening consumers with the price hikes.
Fuel prices are not uniform across the country due to varying state-level taxes and levies. Both central excise duties and state-imposed value-added taxes (VAT) significantly influence the final retail price. As these taxes differ from state to state, the cost of petrol and diesel varies accordingly.
In addition, transportation costs play a role, as the fuel must be transported from refineries to retail outlets. Local demand and supply conditions further contribute to regional price differences.
The most critical factor affecting fuel prices in India is the global price of crude oil, which serves as the base raw material. Fluctuations in the international crude markets directly impact domestic pricing.Another crucial element is the rupee-dollar exchange rate.
Since India imports a large portion of its crude oil, a weaker rupee increases the cost of imports, potentially leading to higher fuel prices for consumers.
While the prices remain unchanged for now, global uncertainties and economic factors suggest that fuel rates could shift in the coming weeks. Consumers may need to stay prepared for potential fluctuations.
