( Economy India ): Petrol and diesel prices remained unchanged across major Indian cities on Monday, providing relief to consumers despite fluctuations in global crude oil prices. State-owned Oil Marketing Companies (OMCs), including Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL), continued with the existing retail fuel prices after reviewing international market trends.
The stability in domestic fuel prices comes even as Brent crude oil traded near $73 per barrel, with investors closely monitoring geopolitical developments and global supply conditions.
Today’s Fuel Prices in Major Metro Cities
| City | Petrol (₹/Litre) | Diesel (₹/Litre) |
|---|---|---|
| New Delhi | ₹102.12 | ₹95.20 |
| Mumbai | ₹111.21 | ₹97.83 |
| Kolkata | ₹113.51 | ₹99.82 |
| Chennai | ₹108.01 | ₹99.66 |
Why Have Fuel Prices Remained Stable?
According to market analysts, domestic fuel prices are influenced by several factors:
- International crude oil prices
- Rupee-US dollar exchange rate
- Refining and transportation costs
- Central excise duty and state VAT
- Pricing decisions by Oil Marketing Companies
Although crude oil prices have witnessed volatility in recent weeks, OMCs have opted to maintain retail prices for now.
Government Eases Fuel Supply Restrictions
In a significant development, the Central Government has announced that temporary restrictions on the sale of petrol and diesel to commercial buyers will be lifted from July 1, 2026, after supply conditions improved following earlier disruptions linked to the Middle East conflict. The move is expected to ease logistics and improve fuel availability across the country.
Outlook
Energy experts believe retail fuel prices may continue to remain stable in the near term unless there is a sharp movement in international crude oil prices or significant changes in taxation. Consumers are advised to check city-specific fuel rates before refuelling, as prices vary due to state taxes and local levies.
( Economy India )
