Fuel Prices Remain Stable Amid Global Crude Oil Surge
Retail fuel prices in India have remained relatively stable despite global crude oil prices surging to over $104.3 per barrel, according to data from September 26. In major metros, petrol is available at ₹102.12 per litre in Delhi and ₹111.21 per litre in Mumbai, while diesel retails for ₹95.20 per litre in the national capital and ₹97.83 per litre in the financial capital.
The widening gap between rising import costs and stagnant domestic retail rates has eroded retail margins, with state refiners absorbing the full impact of the price surge. The government has no proposal to increase petrol and diesel rates despite volatility in global crude oil prices, according to sources.
Fuel prices vary from city to city due to differences in local state taxes, transportation charges, and dealer commissions. While the base price of petrol or diesel is uniform across the country, local variables dictate the final retail price at the pump.