Now Reading: Petrol, diesel prices unchanged across major Indian cities
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Petrol, diesel prices unchanged across major Indian cities
Petrol and diesel prices remained unchanged across major Indian cities on August 15, according to LiveMint and NDTV Profit. In Delhi, petrol was priced at Rs 102.12 per litre and diesel at…
The Story in Brief
Petrol and diesel prices remained unchanged across major Indian cities on August 15, according to LiveMint and NDTV Profit. In Delhi, petrol was priced at Rs 102.12 per litre and diesel at Rs 95.20. Mumbai recorded the highest petrol price among the five metros at Rs 111.21, while Kolkata’s diesel rate stood at Rs 99.82. Bengaluru’s prices were Rs 111.68 for petrol and Rs 99.56 for diesel.
Global crude prices rose by more than $1 a barrel as US-Iran talks faltered and tanker attacks added to supply concerns, LiveMint reported. Brent crude settled at $88.52 a barrel, while West Texas Intermediate closed at $82.40. The Strait of Hormuz carries about 20% of global oil trade, according to the report.
The Indian Opinion
Claims that a rise in global crude prices must immediately mean higher pump prices are too simplistic. Equally, steady domestic rates do not prove that fuel costs are insulated from international shocks. Taxes, currency movements, dealer margins and pricing decisions also matter. The useful test is whether Indian pump prices change if crude sustains its weekly gains, rather than what happens after one trading session.
Sources (2): livemint.com, ndtvprofit.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
