No Price Shocks! India’s Fuel Rates Stay Put, but Is a Shift Coming?

Image Source: Indiaspend

India’s petrol and diesel prices remained unchanged on June 10, as oil marketing companies (OMCs) continued their daily price revision mechanism. Despite fluctuations in global crude oil prices, domestic fuel rates have remained stable since May 2022, following tax reductions by the central and state governments.

CityWise Fuel Prices:

Delhi: Petrol ₹94.77/litre, Diesel ₹87.67/litre
Mumbai: Petrol ₹103.50/litre, Diesel ₹90.03/litre
Chennai: Petrol ₹100.80/litre, Diesel ₹92.39/litre
Kolkata: Petrol ₹105.41/litre, Diesel ₹92.02/litre

Key Highlights:

Global Crude Trends: Brent crude rose 0.18% to $67.16, recovering from a fourday decline, as USChina trade talks showed signs of progress.
Exchange Rate Impact: The rupee’s stability against the US dollar has helped maintain fuel price consistency.
Tax & Refining Costs: Central and state taxes continue to influence retail fuel prices, alongside refining and distribution expenses.
DemandSupply Dynamics: Market demand remains steady, preventing any major price fluctuations.

Consumers can check the latest fuel prices via SMS services provided by Indian Oil, BPCL, and HPCL, ensuring realtime updates on petrol and diesel rates.

Sources: News18, MSN, NDTV Profit.