Fuel Prices Remain Steady in India Amid Global Oil Market Fluctuations
Petrol, diesel rates on 16 April — Check fuel prices today in Delhi, Mumbai, Chennai, Kolkata, Bengaluru & other cities
Mint
Image: Mint
As of April 16, 2023, petrol and diesel prices in India remain unchanged at state-run outlets, despite global oil benchmarks experiencing volatility. Brent crude prices have dropped about 10% over the past week but are still significantly higher compared to last year.
- 01Petrol and diesel prices in India remain steady as of April 16, 2023.
- 02Brent crude oil is trading between $94.75 and $95.60 per barrel.
- 03The Indian government has ensured 100% supply of Piped Natural Gas (PNG) and Liquefied Petroleum Gas (LPG).
- 04Brent prices have decreased by approximately 10% over the past week.
- 05Authorities are actively monitoring fuel distribution to prevent hoarding and black marketing.
Advertisement
In-Article Ad
On April 16, 2023, petrol and diesel prices in India remained stable at state-run outlets, despite fluctuations in the global oil market. Brent crude oil prices are currently between $94.75 and $95.60 per barrel, reflecting a 10% drop over the past week, although prices are still about 44% higher than a year ago. The Indian government has prioritized the supply of Piped Natural Gas (PNG) and Liquefied Petroleum Gas (LPG) amidst disruptions caused by the ongoing conflict in West Asia. Sujata Sharma, Joint Secretary in the Ministry of Petroleum & Natural Gas, emphasized that measures have been taken to stabilize energy supplies, with full gas supply ensured for critical industries. Additionally, authorities have implemented monitoring measures to prevent market malpractices, conducting 2,100 surprise inspections and penalizing 237 distributors to curb hoarding and black marketing.
Advertisement
In-Article Ad
Stable fuel prices will help maintain affordability for consumers, particularly in transportation and essential services, while government measures aim to prevent price manipulation.
Advertisement
In-Article Ad
Reader Poll
Do you believe the government should take further action to stabilize fuel prices?
Connecting to poll...
More about Ministry of Petroleum & Natural Gas
Read the original article
Visit the source for the complete story.


