Petrol and diesel prices have risen for the sixth time in seven days. Rates may be found here.1 min read
Fuel prices in major cities have been raised for the sixth time in seven days. Mumbai continues to have the highest gasoline prices among metro cities. Despite the rise in crude oil prices, the rates have remained stable for almost four months. According to Kotak Institutional Equities, oil firms “would need to boost diesel prices by 13.1-24.9 per liter and gasoline (petrol) prices by 10.6-22.3 per liter at an underlying crude price of $100-120 per barrel.” India is 85% reliant on imports, with domestic gasoline and diesel prices tied to international rates.
On a daily basis, state-run oil refineries such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum modify fuel pricing. Oil prices fell more than $3 globally Wednesday, owing to concerns about a decline in Chinese gasoline consumption.