Petrol and diesel prices across major Indian cities remained unchanged on April 3, even as global crude oil benchmarks edged higher amid rising geopolitical tensions in West Asia and disruptions to key maritime trade corridors. It should be noted that commodity markets are closed on April 3 on account of Good Friday.
State-run oil marketing companies, including Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd, have hiked the price of industrial diesel by Rs 28.22 per litre, a 25% increase, to Rs 137.81 per litre. This applies to high-speed diesel sold in bulk to commercial and industrial establishments. The companies cited the ongoing Middle East conflict and rising crude oil costs as reasons for the hike.
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 approaching, the government may prefer to keep auto fuels under control.
| City | Petrol (Rs/Litre) | Diesel (Rs/Litre) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.50 | 90.01 |
| Kolkata | 105.41 | 91.85 |
| Chennai | 100.80 | 92.34 |
| Ahmedabad | 94.29 | 89.95 |
| Hyderabad | 107.46 | 95.65 |
| Patna | 105.71 | 91.49 |
| Bengaluru | 102.92 | 88.94 |
| Lucknow | 95.34 | 88.50 |
ALSO READ: Brent Crude Reverses Losses, Jumps Above $105 After Trump Threatens More Strikes On Iran
Global Oil Prices
Oil prices surged above $110 a barrel after US President Donald Trump announced plans to escalate military action against Iran, potentially prolonging disruptions to energy flows through the Strait of Hormuz. This vital waterway handles roughly 20% of global oil shipments, and its closure has tightened global energy supply, fueling sharp price increases.
WTI prices have roughly doubled since the start of the year, and analysts warn that continued conflict could push prices above $120 per barrel. Oil futures won't trade on Friday due to the Easter holiday weekend, creating a longer-than-usual weekend period without price movements, reported Bloomberg.
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