Fuel prices across India's major cities held steady on April 27, with no changes reported in Delhi, Mumbai, Kolkata, or Chennai. This stability comes amidst ongoing global crude market tensions, particularly in West Asia, and disruptions affecting key shipping routes.
Current Fuel Prices in Key Indian Cities
In the capital city, Delhi, petrol continues to be sold at Rs 94.77 per litre, while diesel is priced at Rs 87.67 per litre. Mumbai residents are paying higher rates, with petrol retailing at Rs 103.50 per litre and diesel at approximately Rs 90.03 per litre.
Other significant metropolitan areas also maintained their previous day's rates:
- Hyderabad: Petrol at Rs 107.50, Diesel at Rs 95.70
- Kolkata: Petrol at Rs 105.41, Diesel at Rs 92.02
- Bengaluru: Petrol at Rs 102.92, Diesel at Rs 90.99
- Chennai: Petrol at Rs 100.90, Diesel at Rs 92.48
Notably, petrol prices in Bengaluru, Hyderabad, and Kolkata remain above the Rs 100 per litre mark, while diesel prices in these cities are still below Rs 100.
Factors Influencing India's Fuel Prices
A complex interplay of global and domestic factors determines the retail price of petrol and diesel in India. The most significant determinant is the international price of crude oil, which serves as the primary raw material for both fuels. As India heavily relies on imported crude, fluctuations in global oil benchmarks directly impact domestic costs.
The exchange rate between the Indian Rupee and the US Dollar also plays a crucial role. A weaker rupee increases the cost of purchasing crude oil, subsequently leading to higher retail fuel prices.
Why Prices Vary Across States
Beyond international factors, state and central government taxes contribute substantially to the final price consumers pay. These taxes differ from state to state, explaining why fuel prices are not uniform across the country. Additionally, transportation costs from refineries to retail outlets and local demand-supply dynamics also factor into the differing rates observed at the pump.