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Crude oil prices surged past $111 a barrel as the US-Iran war enters its 38th day, with the Strait of Hormuz remaining shut to trade. However, despite the supply crunch, India has managed to maintain largely stable price levels. Check petrol & diesel rates in your city on Monday, 6 April.
A petrol pump in the Kamta area of Lucknow. Image for representational purposes.(Hindustan Times)As the Middle East war stretches into its 38th day, the conflict continues to inflict heavy pressure on global economic stability. Over the weekend, US President Donald Trump escalated his rhetoric, issuing a firm Tuesday deadline for Tehran to reopen the Strait of Hormuz.
Trump threatened to unleash "hell" if his demands are not met, warning in an expletive-laden post that American forces would obliterate Iranian power plants and bridges in retaliation.
Consequently, oil markets opened sharply higher, with Brent crude futures surging past the $111 per barrel mark. Further complicating matters, Iranian officials rejected the ultimatum, declaring that the crucial waterway—through which 20% of the world's oil flows—will remain permanently altered and closed to transit until Tehran is fully compensated for war damages.
However, reports suggest that US, Iranian, and regional negotiators are making a last-ditch effort to broker a 45-day ceasefire.
Premium fuels and private retailers see hikes, govt pumps hold steady
Against this tense geopolitical backdrop, private fuel retailers in India and commercial segments have witnessed massive price hikes, even as government oil marketing companies (OMCs) hold the line on regular auto fuels. Private major Shell India recently hiked petrol prices by ₹7.41 per litre and diesel by ₹25.01 per litre to offset surging crude costs, while Nayara Energy has also implemented steady hikes.
Meanwhile, state-run Indian Oil Corporation Ltd (IOCL) raised the price of its high-octane XP100 petrol to ₹160 per litre. In a massive blow to businesses, commercial LPG prices were hiked by ₹195.50, bringing the cost of a 19-kg cylinder to ₹2,078.50 in Delhi. Furthermore, OMCs have sharply increased the price of industrial diesel by 25% to ₹137.81 per litre for bulk commercial purchases.
However, to shield everyday consumers, regular petrol and diesel rates at state-run pumps remain untouched. The Centre's recent excise duty cuts— ₹3 a litre on regular petrol and a complete exemption on regular diesel—have provided crucial breathing room for government oil companies to maintain base fuel rates despite crude crossing the $110 mark.
Regular petrol and diesel prices
OMCs revise prices every morning at 6 AM. Despite the massive hikes in commercial and premium fuels, the prices of regular petrol and diesel at pumps—which account for the vast majority of daily retail sales—remained stable on Monday.
Below are petrol and diesel prices across major Indian cities on Monday, 6 April:
| Delhi | ₹94.77 | ₹87.67 |
| Mumbai | ₹103.50 | ₹90.03 |
| Kolkata | ₹105.41 | ₹92.02 |
| Chennai | ₹100.90 | ₹92.49 |
| Hyderabad | ₹107.46 | ₹95.70 |
| Bengaluru | ₹102.55 | ₹89.02 |
| Lucknow | ₹94.69 | ₹87.80 |
| Ahmedabad | ₹94.49 | ₹90.17 |
Factors affecting petrol and diesel prices in India
There are many factors that influence the prices of petrol and diesel in India, with the most significant being the price of crude oil on international markets.
The rupee-dollar exchange rate also plays an important role in determining the prices of petrol and diesel, given that India imports a large share of its crude oil requirements. In simple terms, a weaker rupee can increase the cost of imported crude, pushing up domestic fuel prices, or vice versa.
Another factor is the taxes imposed by the Centre and state governments, which form a major component of petrol and diesel prices and are responsible for variations in fuel prices across states.
Demand-supply dynamics and logistical costs also influence the final prices of petrol and diesel in India.
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