Petrol, diesel prices updated April 7: New rates in major cities

Petrol and diesel prices in India stayed unchanged on April 7 across major cities, even as global crude oil benchmarks edged higher amid escalating tensions between the US and Iran. The pricing stability comes as the government balances market pressures with domestic political considerations ahead of state elections.

State-run oil marketing companies, including Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd, increased industrial diesel prices by Rs 28.22 per litre, a 25% jump, raising rates for high-speed diesel sold in bulk to commercial and industrial users to Rs 137.81 per litre.

City-Wise Fuel Prices

Petrol and diesel rates continue to vary across Indian cities due to local taxes and state VAT. In Delhi, petrol is priced at Rs 94.77 per litre and diesel at Rs 87.67 per litre. Mumbai sees petrol at Rs 103.54 per litre and diesel at Rs 90.03 per litre. Other metro cities reflect similar differences influenced by state-level levies.

Detailed Rates on April 7

• Kolkata: Petrol Rs 105.45, Diesel Rs 92.02
• Chennai: Petrol Rs 100.84, Diesel Rs 92.39
• Ahmedabad: Petrol Rs 94.49, Diesel Rs 90.16
• Hyderabad: Petrol Rs 107.46, Diesel Rs 95.70
• Patna: Petrol Rs 105.71, Diesel Rs 91.49
• Bengaluru: Petrol Rs 102.96, Diesel Rs 90.99
• Lucknow: Petrol Rs 95.34, Diesel Rs 88.50

Industrial and commercial LPG rates have also been affected, with a 19-kg cylinder now costing Rs 2,078.50 in Delhi, following a recent Rs 195.50 hike on April 1. Domestic LPG rates, however, remain unchanged at Rs 913 per 14.2-kg cylinder.

Global Crude Oil Trends

Global oil prices remain elevated, hovering near multi-year highs due to geopolitical tensions in the Middle East. Brent crude traded close to $110 per barrel, while US West Texas Intermediate (WTI) held above $112, its highest level since mid-2022.

US-Iran Tensions and Market Impact

President Donald Trump set a critical diplomatic deadline for Iran, warning of potential military consequences if Tehran fails to comply. The Strait of Hormuz, a key artery for global oil shipments, remains a central concern in ongoing negotiations. The uncertainty continues to influence crude markets, even as incremental supply movements stabilize local fuel prices.

What Drives Petrol and Diesel Prices in India

Petrol and diesel rates are determined by several factors. Global crude oil prices are the most significant driver, as crude is India’s primary raw material for fuel production. The rupee–dollar exchange rate also impacts prices, given India’s reliance on imported crude. Central excise duties and state-level VAT further influence final retail prices, creating variations across cities.

Conclusion

While retail petrol and diesel prices remain stable in most Indian cities, industrial diesel has seen a significant increase, reflecting broader market dynamics influenced by global crude prices and geopolitical uncertainty. Consumers and industries alike continue to watch international developments closely, as fluctuations in oil markets may eventually affect domestic fuel pricing.