Petrol and Diesel Prices Surge Amid Global Tensions
Petrol, diesel prices on 5 April: Check fuel rates in your city today — Delhi, Mumbai, Bengaluru, Kolkata, others
Mint
Image: Mint
As the conflict between the US-Israel and Iran continues, global oil prices have surged, impacting fuel rates in India. Private retailers have raised petrol prices by ₹7.41 per litre and diesel by ₹25.01 per litre, while state-run companies maintain steady rates due to recent excise duty cuts.
- 01Crude oil prices rose over 5% following US President Trump's comments on military operations.
- 02Private fuel retailers in India have significantly increased prices, with Shell India leading the hike.
- 03State-run companies like Indian Oil Corporation Ltd have adjusted premium fuel prices but kept regular rates stable.
- 04The Indian government recently cut excise duties on petrol and diesel to alleviate consumer pressure.
- 05Factors such as the rupee-dollar exchange rate and taxes contribute to fuel price variations across India.
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The ongoing conflict between the US-Israel and Iran has caused significant fluctuations in global oil prices, with crude futures rising over 5% following statements from US President Donald Trump about military operations. In India, private fuel retailers have responded by raising petrol prices by ₹7.41 per litre and diesel by ₹25.01 per litre. Meanwhile, state-run companies like Indian Oil Corporation Ltd have increased the price of premium fuels, with petrol surpassing ₹160 per litre. However, regular petrol and diesel prices have seen only marginal changes due to recent excise duty cuts by the Indian government, aimed at easing the financial burden on consumers. The prices of petrol and diesel are influenced by various factors, including the international crude oil prices, the rupee-dollar exchange rate, and taxes imposed by the government.
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The increase in fuel prices will likely lead to higher transportation costs, affecting the prices of goods and services across India.
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