On September 10, Indian petrol and diesel prices remained unchanged despite international crude oil surging above $100 per barrel due to West Asian tensions. State-owned oil companies are absorbing significant losses to maintain stable retail rates, providing relief to consumers.
Petrol and diesel prices remained unchanged across major Indian cities on September 10, even as international crude oil prices continued to climb sharply. Brent crude has moved above the $100-per-barrel mark amid escalating geopolitical tensions in West Asia, putting pressure on India’s oil import bill and fuel retailers.
For motorists, however, there has been no corresponding change in domestic petrol and diesel prices. State-owned oil marketing companies continue to keep retail fuel rates steady, providing some relief to consumers despite the surge in global crude prices.
Petrol and Diesel Rates Today: City-Wise Prices
Note: Fuel prices in India vary from one city to another because of differences in state taxes, local levies and other costs. Petrol and diesel rates are generally updated daily, with the revised prices applicable from 6 am.
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Why Are Crude Oil Prices Rising?
The sharp rise in crude prices has been driven by renewed tensions in West Asia and concerns over oil supplies and shipping through key routes. Brent crude crossed $100 a barrel, while reports on September 10 indicated that oil was trading around or above the $101 mark.
The development is significant for India because the country is one of the world’s largest crude oil importers. A prolonged period of expensive crude could increase the nation’s import bill and add to inflationary pressures.
Despite the international price surge, domestic pump prices have remained frozen. Reports indicate that government-owned fuel retailers are currently absorbing substantial losses, estimated at around Rs 5 per litre on petrol and Rs 23 per litre on diesel, as international crude prices rise.
For consumers, any sustained increase in crude oil prices could eventually put pressure on domestic fuel prices. For now, however, motorists in Delhi, Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad continue to pay the rates listed above.
Also Read: Petrol, Diesel Prices Today, September 8: Check City-Wise Rates as Oil Prices Rise