Now Reading: Indian Fuel Prices Hold Steady Despite Rising Brent Crude
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Indian Fuel Prices Hold Steady Despite Rising Brent Crude
Petrol and diesel prices in major Indian cities remained unchanged on 7 August, with rates still reflecting the last major revision on 25 May, Livemint reports. Petrol cost Rs 102.12 a litre…
The Story in Brief
Petrol and diesel prices in major Indian cities remained unchanged on 7 August, with rates still reflecting the last major revision on 25 May, Livemint reports. Petrol cost Rs 102.12 a litre in Delhi, Rs 111.21 in Mumbai, Rs 111.68 in Bengaluru and Rs 107.76 in Chennai. Diesel was priced at Rs 95.20 in Delhi, Rs 97.83 in Mumbai, Rs 99.56 in Bengaluru and Rs 99.55 in Chennai.
Brent crude traded near $83.45 a barrel in early Asian trade after rising almost 4% in the previous session, according to Livemint. NDTV Profit reported Brent’s previous settlement at $82.49 and WTI at $77.29. State-owned oil marketing companies have kept domestic pump prices steady. The Centre also rejected claims that India had agreed to large-scale US ethanol imports.
The Indian Opinion
The easy claim that every crude price rise must immediately reach Indian motorists ignores how state-owned oil companies have held pump rates since 25 May. The opposite claim, that consumers are fully protected, is also too broad, since companies may recover costs later or prices may differ across cities. The useful test is whether the next official revision follows sustained crude and currency changes, not one volatile trading session. Will prices move if Brent stays above $80?
Sources (2): ndtvprofit.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
