Petrol and diesel prices remained unchanged on July 5 despite falling global crude oil rates.
Key Highlights
- Petrol, diesel prices stable across major Indian cities.
- Brent crude slipped near four-month low.
- OMCs unlikely to cut retail fuel prices soon.
- ATF and commercial LPG prices were reduced from July 1.
- Delhi petrol at ₹102.12, diesel at ₹95.20 per litre.
Story
Petrol and diesel prices remained stable across India on Sunday, July 5, even as global crude oil prices continued to soften. Despite Brent crude slipping near a four-month low, state-run Oil Marketing Companies have not announced any reduction in retail fuel rates.
In Delhi, petrol is priced at ₹102.12 per litre and diesel at ₹95.20 per litre. In Mumbai, petrol costs ₹111.21 and diesel ₹97.83 per litre. Kolkata recorded petrol at ₹113.51 and diesel at ₹99.82, while Chennai saw petrol at ₹107.77 and diesel at ₹99.55 per litre.
Fuel prices are also steady in other cities. Petrol in Bengaluru is ₹111.68 per litre, while diesel is ₹99.56. Hyderabad has one of the highest rates, with petrol at ₹115.69 and diesel at ₹103.82 per litre. In Lucknow, petrol is ₹101.86 and diesel ₹95.36 per litre.
Global crude prices have eased after tensions in West Asia reduced and oil flows through the Strait of Hormuz improved. However, domestic fuel prices have not come down because oil companies are still processing costlier crude purchased earlier during the crisis period.
Petroleum Minister Hardeep Singh Puri has indicated that any future price adjustment will depend on continued stability in international crude oil prices.
While petrol and diesel prices remain unchanged, Oil Marketing Companies recently reduced Aviation Turbine Fuel prices by around ₹5 per litre. Commercial 19-kg LPG cylinder prices were also cut by ₹183.50 from July 1. The 5-kg Free Trade LPG cylinder price was reduced by ₹13.
Private fuel retailer Nayara Energy also announced price cuts, reducing petrol by ₹5 per litre and diesel by ₹3 per litre. This made it the first major fuel retailer in over two years to cut pump prices.
For consumers, the key takeaway is that petrol and diesel prices are stable for now, but any relief will depend on how global crude prices behave in the coming weeks.
