New Delhi: Despite the continuous fall in the prices of crude oil in the international market, there is currently no change in the retail prices of petrol and diesel in India. Even on Sunday, July 5, fuel prices remained stable across the country. However, the prices of aviation fuel (ATF) and commercial LPG cylinders have been cut recently.
Why did petrol and diesel not become cheaper even after the fall in crude oil?
Brent crude prices have fallen from their wartime highs in recent months. Crude oil prices have softened in the global market due to easing of tensions in West Asia and normalisation of oil supply through the Strait of Hormuz.
Despite this, India’s government oil marketing companies (OMCs) have not made any cut in the prices of petrol and diesel. According to Union Petroleum and Natural Gas Minister Hardeep Singh Puri, companies are still processing the expensive crude oil that was purchased during the West Asia crisis. If prices in the international market remain stable for a long time, there may be a possibility of relief in the future.
Is there any relief on ATF and commercial LPG?
Under the monthly review on July 1, oil marketing companies:
Reduction in the price of Aviation Turbine Fuel (ATF) by about Rs 5 per liter.
Price of 19 kg commercial LPG cylinder reduced by Rs 183.50.
5 kg free trade LPG cylinder became cheaper by Rs 13 and became Rs 808.50.
Apart from this, private company Nayara Energy has also made petrol cheaper by Rs 5 per liter and diesel by Rs 3 per liter.
What are the petrol and diesel prices in major cities on July 5?
City petrol diesel
New Delhi: Rs 102.12, Rs 95.20
Mumbai: Rs111.21 Rs 97.83
Kolkata: Rs 113.51, Rs 99.82
Chennai: Rs 107.77, Rs 99.55
Bengaluru: Rs 111.68, Rs 99.56
Hyderabad: Rs 115.69 Rs 103.82
Jaipur: Rs 112.66 Rs 97.78
Patna: Rs 113.37 Rs 99.36
Lucknow: Rs 101.86 Rs 95.36
Chandigarh: Rs 101.54 Rs 89.47
What did Hardeep Singh Puri say about E20 petrol?
Hardeep Singh Puri rejected the rumours spreading on social media regarding E20 petrol. He said that the claim that ethanol blended fuel damages vehicle engines or causes insects is wrong. He said that the government welcomes criticism, but spreading rumours without facts is not appropriate.
What could be the prices of petrol and diesel in the future?
Experts believe that if the prices of Brent crude remain at the current level and geopolitical tension does not increase in West Asia, then there may be a possibility of a reduction in the prices of petrol and diesel in India also in the coming time. At present, oil companies are keeping an eye on the situation in the international market.
