Petrol-Diesel: Amid tensions between India and Pakistan, crude oil prices are at a four-year low. On the other hand, petrol and diesel rates have been released today as usual. There has been no change in fuel prices. Petrol in Delhi remained at Rs 94.77 and diesel at Rs 87.67 per liter. Even today, the cheapest petrol and diesel in India is in Port Blair. Here, the price of petrol is 82.46 and the price of diesel is 78.05 per liter. Petrol Minister Hardeep Puri had said that when the stock of oil companies will come to the level of $ 60-65 per barrel, there will be scope for reducing the prices of petrol and diesel .
Crude oil came close to $ 60
Today Brent crude has come down to $ 61.11 per barrel. Whereas, WTI is below $ 60 at $ 58.10 per barrel. India can save up to Rs 1.8 lakh crore on crude oil and LNG imports if the softening trend in international energy rates continues.
Rating agency ICRA made this estimate on Wednesday. India meets more than 85 percent of its crude oil needs through imports. The country spent US$242.4 billion on buying crude oil from abroad in the financial year 2024-25. Earlier this week, crude oil prices in the international markets fell to a four-year low of $60.23 per barrel.
According to experts, oil companies are currently earning a profit of Rs 10-12 per liter on petrol and diesel, but the retail price has not been reduced according to international prices. On April 8, 2025, IOC reduced the base price of petrol from Rs 54.84 to Rs 52.84, but the government took the benefit of Rs 2 itself by increasing the excise duty.