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Fuel Prices in India Hold Steady Amid Global Crude Oil Rise

Guavy AI Editorial Team
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The prices of petrol and diesel in India remained stable on Monday, despite an increase in Brent crude oil price. The global benchmark Brent crude price rose by 1.09% or $0.91 to trade around $84.46 a barrel at 0056 GMT.

State-owned fuel retailers kept the rates largely unchanged across major cities like Delhi, Mumbai, Bengaluru and Patna. The fuel prices are updated daily at 6:00 AM under dynamic pricing but remain unchanged at major metros.

The prices of petrol in Delhi and Mumbai were ₹102.12 and ₹111.21 per liter respectively, while the diesel prices were ₹95.20 and ₹97.83 per liter respectively.

KCM Trade chief market analyst Tim Waterer said that traders have been conditioned by the on-again, off-again nature of the negotiations and are waiting for tangible evidence before further unwinding the risk premium.

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