State-run oil marketing companies in India have kept petrol and diesel prices unchanged on Sunday, continuing a prolonged period of stability in retail fuel rates. Notably, the last revision by government-owned firms was carried out in 2022, and since then, there has been no official hike despite fluctuations in global crude oil prices. However, the scenario is different in the private sector, where companies have increased fuel prices significantly in recent weeks. This divergence has created a noticeable gap between public and private fuel retailers, with private firms adjusting rates more frequently in response to international market trends and operational considerations.
Private fuel retailers have implemented substantial price hikes, impacting consumers across several regions. On April 1, Shell India raised petrol prices by ₹7.40 per litre and diesel by ₹25 per litre, pushing petrol to ₹119.85 and diesel to ₹123 per litre. Premium variants also witnessed increases, with power petrol reaching ₹129.85 and premium diesel touching ₹133 per litre. Similarly, Nayara Energy raised petrol prices by ₹5 and diesel by ₹3 in March, citing geopolitical tensions in the Middle East. Meanwhile, Indian Oil Corporation increased the price of its premium XP100 petrol by ₹11 to ₹160 per litre, while premium diesel rose to ₹92.99 per litre after the revision.
Fuel prices vary across major Indian cities due to local taxes and transportation costs. Below is a snapshot of petrol and diesel rates in key cities:
| City | Petrol (₹/L) | Diesel (₹/L) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Kolkata | 104.21 | 90.76 |
| Hyderabad | 94.49 | 95.70 |
| Pune | 104.04 | 90.57 |
| Chennai | 100.75 | 92.34 |
| Ahmedabad | 94.49 | 90.17 |
| Bengaluru | 102.92 | — |
| Nashik | 95.50 | 89.59 |
| Lucknow | 94.69 | 90.57 |
| Chandigarh | 94.30 | 82.45 |
| Indore | 106.48 | 91.88 |
| Patna | 105.58 | 93.80 |
| Surat | 95.00 | 89.00 |
On the global front, crude oil prices have softened after previously crossing the $100 per barrel mark amid geopolitical tensions and conflict-related uncertainties. Recently, prices have dipped below this level, offering some relief to markets. The decline is attributed to signals from Iran indicating that oil tankers would be allowed to pass through the strategically crucial Strait of Hormuz. This development has eased supply concerns and contributed to stabilising crude oil prices internationally, although its impact on domestic fuel pricing remains limited so far.