Petrol, Diesel Prices Remain Steady Despite Sharp Rise in Global Crude Oil

The price of petrol and diesel in major Indian cities remained stable on August 23, despite a significant rise in global crude oil prices.

This stability is attributed to state-owned oil companies shielding consumers from international market volatility, which is driven by geopolitical tensions such as the US-Iran standoff.

Petrol was priced at Rs 102.12 per litre in Delhi, Rs 111.31 in Mumbai, and Rs 113.51 in Kolkata, while diesel stood at Rs 95.20 per litre in Delhi, Rs 97.97 in Mumbai, and Rs 99.82 in Kolkata.

The global oil prices have gained sharply, with Brent crude rising 6.39% to $94.39 per barrel and West Texas Intermediate gaining 5.66% for the week at $87.06 per barrel.