Domestic Fuel Prices Steady Despite Global Oil Rates Hitting 2019 Highs


Domestic Fuel Prices Steady Despite Global Oil Rates Hitting 2019 Highs

Petrol and diesel prices were steady in major cities today despite the global crude oil rates hitting 2019 highs. In Delhi, the price of petrol stood at Rs. 72.95 per litre with effect from 6 am Tuesday, and that of diesel was at Rs. 66.46 per litre, according to Indian Oil Corporation.

According to a notification by the country’s largest fuel retailer, petrol and diesel prices in Mumbai were at Rs. 78.52 per litre and Rs. 69.56 per litre with effect from 6 am on April 23.

Crude oil prices hit highest level so far this year

On Tuesday, the crude oil prices overseas jumped to near 2019 highs, after the US announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran.

Brent crude futures – the international benchmark for crude oil – were at $74.40 per barrel at 8:09 am, up 0.5 per cent from their last close and not far off a 2019 peak of $74.52 reached the previous day. Read More

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