Crude prices again eased on Thursday but remained above $100 per barrel mark as markets are weighing the recent developments around the US-Iran conflict, which has been disrupting oil supply worldwide.
Brent Crude declined around 0.93% to $102.12 a barrel against its previous close, while US West Texas Intermediate Crude was at $91.3 a barrel, losing 0.93% as well.
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This decline follows the sharp rebound in global crude prices on Wednesday, Sept. 23, when crude prices jumped nearly 4% as investors were assessing the impact of the escalation of the Iran-US situation on the global crude supply.
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While prices in the international market remained volatile over a prolonged period, domestic fuel prices have remained unchanged since May.
Also Read: Brent Crude Holds Above $100 As Iran-US Tensions Keep Supply Risks In Focus
Petrol prices on September 24
- Petrol price in Delhi: Rs 102.12/litre
- Petrol price in Kolkata: Rs 113.51/litre
- Petrol price in Mumbai: Rs 111.21/litre
- Petrol price in Chennai: Rs 107.77/litre
- Petrol price in Hyderabad: Rs 115.69/litre
- Petrol price in Bengaluru: Rs 110.89/litre
Diesel prices on September 24
- Diesel price in Delhi: Rs 95.20/litre
- Diesel price in Kolkata: Rs 99.82/litre
- Diesel price in Mumbai: Rs 97.83litre
- Diesel price in Chennai: Rs 99.55/litre
- Diesel price in Hyderabad: 103.82/litre
- Diesel price in Bengaluru: 98.80/litre
What Drives Petrol and Diesel Prices?
Crude prices are easing in the global market, but state-run oil marketing companies have been keeping the rates unchanged as there are many other factors such as the rupee-dollar exchange rate, refining costs, taxes, dealer margins, and others that they need to consider for deriving the fuel prices in India, and not just international crude prices.
Also read: Govt Slashes Edible Oil Duties: Crude Sunflower Tariff Scrapped, Palm And Soy Halved To 5%
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