Domestic petrol and diesel prices in India remained unchanged on Tuesday (April 21), extending the period of stability seen since the outbreak of conflict in West Asia. Despite global volatility in oil markets, retail fuel prices are largely unchanged across the country.
This relative price stability has been supported by government interventions, including excise duty cuts, which have helped consumers cushion international price pressures.
Meanwhile, other fuels such as aviation turbine fuel (ATF) and premium gasoline have seen notable increases in recent weeks. The changes come as disruptions in global oil supply have pushed oil prices higher. For example, Brent crude rose more than 50% after the outbreak of hostilities, driven by supply concerns and supply disruptions in the Strait of Hormuz, a key shipping route.
The war involving the United States, Israel and Iran enters its eighth week. It began on February 28, when coordinated US-Israeli strikes on Iran were launched, prompting Tehran to retaliate with strikes through US military bases in the Middle East.
OMCs increase prices of industrial diesel, premium petrol and jet fuel
The state-run oil marketing companies (OMCs) have increased diesel prices by about 100%. ₹22 per liter and premium gasoline prices by approx ₹2 per litre, Mint reported earlier. However, the prices of fuel for regular transport and premium diesel remained unchanged.
The price of premium gasoline has increased ₹2.35 per liter from March 20, according to media reports. “The prices of Bharat Petroleum’s Speed, Hindustan Petroleum’s Power and Indian Oil’s XP95 have been increased by ₹2.09– ₹2.35/litre,” ANI reported.
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Meanwhile, the price of ATF, or jet fuel, has more than doubled to a record high ₹2.07 lakh per kiloliter in March. However, the government said domestic airlines will not have to pay the steep increase as there is a mechanism in place to protect them.
The Ministry of Petroleum and Natural Gas had earlier said that the OMC PSUs, in consultation with the Ministry of Civil Aviation, had decided to pass on only a partial, phased increase of 25% (only ₹15/litre) for domestic airlines. In contrast, airlines operating on international routes will bear the full increase in ATF prices in line with what applies elsewhere.
Fuel prices for the city on April 21
The following retail rates are currently active in major cities across India:
CityGasoline ( ₹ /L)Diesel ( ₹ /L)Delhi ₹94.77 ₹87.67 Bombay ₹103.54 ₹90.03 Calcutta ₹105.45 ₹92.02 Chennai ₹100.84 ₹92.39 Hyderabad ₹107.46 ₹95.70 Bengaluru ₹102.96 ₹90.99 Lucknow ₹94.69 ₹87.81 Ahmedabad ₹94.49 ₹90.17
Who is responsible for fuel prices?
The three main OMCs responsible for fuel pricing and distribution in India are Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL).
Retail fuel prices in the country are based on several factors, including the price of crude oil in international markets, the rupee-to-dollar exchange rate, and taxes imposed by the central and state governments.
Petrol and diesel prices are revised every day at 6:00 AM. This practice helps OMCs keep domestic fuel prices in line with international oil prices and exchange rates.
“India has sufficient supplies for more than 60 days”
Defense Minister Rajnath Singh said on Saturday that India must remain prepared for any sudden escalation of conflict in West Asia, describing the current situation in the region as “volatile”.
He made the comments while chairing a high-level meeting of the Informal Group of Ministers (IGoM) set up to monitor the situation in West Asia, according to media reports.
The Ministry of Defense said Rajnath Singh described “the ground situation of the conflict as uncertain and volatile and stressed the need for India to remain prepared not only for de-escalation but also for any renewed escalation”.
