Petrol and diesel prices across major Indian cities remained unchanged on April 27. This move comes even as oil prices climbed sharply as efforts to revive peace talks between the US and Iran faltered, leaving the Strait of Hormuz effectively shut and deepening a global supply crunch.
In the national capital, petrol is still selling at Rs 94.77 per litre, while diesel is priced at Rs 87.67 per litre. Rates are comparatively steeper in Mumbai, where petrol is being sold at Rs 103.50 per litre and diesel at about Rs 90.01 per litre. With state elections ongoing, the government may prefer to keep auto fuels under control.
A potential hike in petrol and diesel prices may be on the horizon, with brokerage firm Emkay Global Financial Services warning that continued disruptions linked to the Strait of Hormuz could force the government to act. The brokerage expects a first round of price hikes of around Rs 10 per litre, although it noted this would only partially offset losses faced by oil marketing companies (OMCs).
ALSO READ: Petrol, Diesel Price Hike Imminent? Emkay Sees 'Rs 10/Litre Increase In First Round'
| City | Petrol (Rs/Litre) | Diesel (Rs/Litre) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.54 | 90.03 |
| Kolkata | 105.45 | 92.02 |
| Chennai | 100.84 | 92.39 |
| Ahmedabad | 94.49 | 90.16 |
| Hyderabad | 107.46 | 95.70 |
| Patna | 105.71 | 91.49 |
| Bengaluru | 102.96 | 90.99 |
| Lucknow | 95.34 | 88.50 |
ALSO READ: Brent Crude Surges Past $107 As Hormuz Stays Shut, Iran-US Talks Stall
What Drives Petrol and Diesel Prices?
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.
The rupee–dollar exchange rate also influences fuel prices since India imports a large portion of its crude oil requirements.
Additionally, central excise duty and state-level VAT significantly affect the final retail price of petrol and diesel, which is why rates differ across cities.
Get all the latest updates on the US, Israel-Iran war here.
Global Oil Prices
Brent crude for June settlement rose 2.2% to $107.66 a barrel, after touching an intraday high of $107.97, while WTI for June delivery gained 2.2% to $96.47, holding near multi-month highs.
The continued closure of Hormuz — a critical artery that typically carries about a fifth of global oil flows — has pushed markets into uncharted territory. Daily ship transits through the strait have dropped to near zero as both US and Iranian forces enforce competing blockades. The disruption is no longer limited to crude. Supplies of fuel, natural gas and even fertilizers have been hit, amplifying concerns of a broader inflationary shock across economies.
Prices of commercial LPG were hiked by Rs 195.50 on April 1, on the back of surge in global crude oil prices linked to the escalating Middle East conflict. A 19-kg commercial LPG now costs Rs 2,078.50 in Delhi, according to state-owned oil companies. Commercial liquefied petroleum gas rates were last increased by Rs 114.5 per 19-kg cylinder on March 1.
Domestic cooking gas LPG rates, which were last hiked by Rs 60 per 14.2-kg cylinder on March 7, remain unchanged, according to news agency PTI. It costs Rs 913 per 14.2-kg cylinder in Delhi.
ALSO READ: Fuel Price Freeze: Rs 18/Litre Loss On Petrol, Rs 35 On Diesel
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