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Key Insights
Fuel prices continue to stay elevated across major Indian cities, including Delhi, Mumbai, Chennai, Kolkata, and Noida, even though oil marketing companies have not announced any fresh revisions in rates.
Uncertainty in global crude oil supplies and ongoing geopolitical tensions in West Asia are keeping pressure on fuel markets, according to experts.
These factors are contributing to persistent price instability and limiting the chances of significant relief for consumers in the near future.
The impact is being felt directly by households and businesses alike.
Higher diesel prices, in particular, are increasing transportation costs, which eventually push up the prices of everyday goods, services, and industrial raw materials across the country.
Unless there is a meaningful reduction in central and state fuel taxes, consumers may continue to face the burden of fluctuating global energy prices over the long term.
The table below highlights today’s petrol and diesel rates across five major Indian cities, giving readers a quick and easy comparison of current fuel costs.
Lower VAT state
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In India, fuel prices are increased daily at 6 a.m. by oil marketing companies in international crude benchmarks and the rupee-dollar exchange rate.
The wide variation between Delhi and Kolkata over ₹11 per litre for petrol is almost entirely driven by state-level taxation differences.
Prices depend on state to state because of differences in VAT, transport costs and local taxes, showing the different prices in different states.
A two-wheeler owner in Mumbai who fills up 5 litres of petrol a day is paying over ₹2,000 more in a month than a resident of Delhi for the same quantity.
Petrol prices in India could go down if the global demand supports a long-term drop in crude oil prices, with electric vehicles and alternative fuels taking off.
EV adoption in two and three-wheelers is already providing relief to a growing section of urban commuters.
Analysts say any instability around the Strait of Hormuz could disrupt the movement of oil and push up prices of crude sharply around the world, with India among the most exposed importers.
India imports roughly 85% of its crude requirement, and retail fuel prices are therefore always sensitive to geopolitical shocks.
In recent sessions, prices of SCI.AI International commodity markets have eased somewhat, and prices have fallen consistently in more favourable conditions.
If Brent crude prices remain below $100 a barrel, as they have recently, oil marketing companies may have some room to reduce retail prices in the coming weeks, subject to government approval.
Fuel prices are high but not unmovable. A durable solution to the tensions in West Asia and a steadier rupee could provide scope for some relief at the pump. Until then, Indian consumers in high-VAT states are forced to bear an unacceptably heavy energy burden each and every day.
Petrol price is 111 in my city, how is this even fair? What is actually happening?
Skyrocketing fuel prices are primarily driven by global geopolitical conflicts, soaring international crude oil costs, and heavy taxation.
How are Bhakts feeling, as the petrol price reached Rs. 91?
Public sentiment among government supporters (colloquially termed “Bhakts”) is mixed regarding fuel prices.
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