Fuel Prices Stable Amid Rising Crude Costs in India
Petrol, diesel rates on 25 April — Check fuel prices today in Delhi, Mumbai, Bengaluru, & other cities
Mint
Image: Mint
As of April 25, 2024, petrol prices in Delhi remain at ₹94.77 per litre and diesel at ₹87.67 per litre, unchanged since March. Despite rising international crude oil prices, the Indian government has not increased fuel prices, citing efforts to protect consumers. However, oil marketing companies are facing significant losses.
- 01Petrol and diesel prices in Delhi are currently ₹94.77 and ₹87.67 per litre, respectively.
- 02State-run oil marketing companies are losing ₹20 per litre on petrol and ₹100 on diesel sales.
- 03A potential price hike may occur after assembly elections, according to market reports.
- 04The government has not increased prices for four years despite rising crude oil costs.
- 05Excise duty on fuels was reduced by ₹10 per litre to stabilize prices for consumers.
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As of April 25, 2024, petrol and diesel prices in India remain stable, with petrol priced at ₹94.77 and diesel at ₹87.67 per litre in Delhi. These prices have not changed since March 2024, despite rising international crude oil prices, which have surged to over $113 per barrel. The Indian government has dismissed reports of an imminent price hike, asserting that no such proposal is under consideration. State-run oil marketing companies (OMCs) are currently experiencing losses of ₹20 per litre on petrol and ₹100 on diesel sales. In response to high oil prices, the government has lowered excise duties by ₹10 per litre to mitigate consumer impact. Historically, OMCs benefitted from lower crude prices, reporting a combined net profit of over ₹34,000 crore in the first half of FY25. The government continues to monitor international price volatility while striving to keep fuel costs stable for Indian citizens.
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Consumers in India benefit from stable fuel prices, avoiding potential price hikes amid rising crude oil costs, thanks to government interventions.
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