- Petrol and diesel prices in India remained unchanged on March 5 despite global crude surge
- Tensions in the Middle East raised concerns over oil supply disruptions from key regions
- Petrol in New Delhi was Rs 94.72 per litre; diesel was Rs 87.62 per litre on March 5
Petrol and diesel prices across India remained unchanged on Thursday, March 5, even as global crude oil markets witnessed a sharp surge amid uncertainty owing to tensions in the Middle East. The US, Israel-Iran war has raised concerns over possible disruptions in oil supply from one of the world's most critical oil-producing regions.
Despite the rise in international crude rates, there has been no immediate revision in retail fuel prices across major Indian cities. However, experts cited by BBC have indicated that if volatility in global crude markets continued for an extended period, it could eventually influence domestic fuel rates.
Petrol, diesel prices in key cities
According to a report by News X, petrol prices stood at Rs 94.72 per litre and diesel at Rs 87.62 per litre in New Delhi. Mumbai recorded petrol at Rs 104.21 and diesel at Rs 92.15 per litre. In Kolkata, petrol cost Rs 103.94, while diesel stood at Rs 90.76 per litre. Petrol cost Rs 100.75 and diesel Rs 92.34 per litre in Chennai.
Petrol was priced at Rs 94.49 and diesel at Rs 90.17 per litre in Ahmedabad. In Bengaluru, petrol was being sold at Rs102.92 and diesel at Rs 89.02 per litre. In Hyderabad, petrol prices were Rs 107.46 and diesel Rs 95.70 per litre. Jaipur indicated petrol at Rs104.72 and diesel at Rs 90.21 per litre.
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Lucknow reported petrol at Rs 94.69 and diesel at Rs 87.80 per litre. In Pune, petrol was Rs 104.04 and diesel Rs 90.57 per litre. Chandigarh petrol prices were Rs 94.30 and diesel Rs 82.45 per litre. Indore recorded petrol at Rs 106.48 and diesel at Rs 91.88 per litre. Patna reported petrol at Rs 105.58 and diesel at Rs 93.80 per litre. Surat petrol prices were Rs 95.00 and diesel Rs 89.00 per litre, while Nashik recorded petrol at Rs 95.50 and diesel at Rs 89.50 per litre.
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Why Fuel Prices Change State-Wise ?
Fuel prices differ from city to city due to variations in state-level taxes and transportation costs.
What is India's storage status?
India imports nearly 88% of its crude oil requirement, making it highly dependent on international markets.
The ongoing conflict has also brought focus to the Strait of Hormuz, a key maritime route through which nearly half of India's oil imports pass.
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According to a report by News 24, India currently holds around 100 million barrels of crude oil in reserve, stored at Indian Strategic Petroleum Reserve Ltd facilities in Mangaluru, Padur and Visakhapatnam to address emergency situations.
Oil shipments that have already crossed the Strait of Hormuz are expected to reach the country and may help meet domestic demand for the next 40 to 45 days.
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