Fuel Prices Steady in India Despite Global Volatility; Hyderabad Highest

Top Summary

• What happened: Petrol and diesel prices in major Indian cities remained unchanged on Thursday.
• Why it matters: This stability occurs amidst escalating Middle East tensions and volatility in global fuel markets.
• What changes for people: No immediate change in fuel expenses for consumers in major metro cities.
• Who is affected: Consumers in major metro cities, particularly those in Hyderabad, which has the highest prices.

Fuel Prices Remain Stable

Fuel prices across major Indian cities remained steady on Thursday, despite sharp volatility in global fuel markets.

The stability comes amid the escalating Middle East conflict and concerns over global oil supply routes.

Metro City Price Comparison

Among the six key metros, Hyderabad recorded the highest petrol price at ₹107.46 per litre.

New Delhi remained the cheapest at ₹94.77 per litre, according to HT data.

Other prices included:

• Bengaluru: ₹102.99
• Chennai: ₹100.80
• Kolkata: ₹105.41
• Mumbai: ₹103.54

Five of the six metros reported petrol prices above ₹100, with Delhi being the exception.

Diesel Price Discrepancies

Diesel prices also showed a wide spread across metros.

Hyderabad again topped the chart at ₹95.70 per litre.

Delhi recorded the lowest diesel price at ₹87.67, as per HT data.

Other cities reported the following diesel prices:

• Bengaluru: ₹90.99
• Chennai: ₹92.39
• Kolkata: ₹92.02
• Mumbai: ₹90.03

State-Wise Fuel Price Extremes

Andhra Pradesh reported the highest petrol price at ₹109.93 per litre, followed by Kerala at ₹107.48 and Telangana at ₹107.46.

Andaman and Nicobar Islands had the lowest petrol price at ₹82.46.

For diesel, Kerala topped the list at ₹96.38 per litre, followed by Telangana at ₹95.70.

Andaman and Nicobar Islands again reported the lowest diesel price at ₹78.05.

Global Market Pressures

Global fuel prices have spiked due to the Middle East conflict.

Diesel prices in Europe jumped 27 per cent since Friday, according to news agency AP.

Benchmark Brent crude surged past 85 dollars a barrel earlier this week before easing slightly.

What to Watch Next

Monitor global fuel market reactions to the ongoing Middle East tensions. Observe how sustained global price increases may eventually impact Indian domestic fuel prices in the coming weeks.