Crude oil price fluctuations: Decline in Petrol and Diesel rates in Maharashtra possible ?

As global crude oil prices experience slight fluctuations, the attention shifts to the petrol and diesel rates in Maharashtra. 

Despite a recent decline in international crude oil prices since May 2023, Indian oil marketing companies have not made significant changes in fuel prices. Here we delve into the current scenario, providing insights into the latest petrol and diesel rates in Maharashtra and key metropolitan cities:

Global Crude Oil Prices:

At 6 am on January 17, 2024, WTI crude oil stands at $71.91 per barrel, and Brent crude is marginally higher at $78.29 per barrel. The slight variability in international oil prices raises questions about the impact on domestic fuel rates.

Will there be a big reduction in the price of petrol and diesel? 

Common people also paid attention to this. But even today Indian oil companies have not made any change in the price of petrol and diesel. 

Contrary to the anticipation of a substantial reduction in fuel prices following the decline in crude oil costs, there have been minor adjustments in Maharashtra. Indian oil companies have maintained the current prices of petrol and diesel.

While petrol in Delhi remains at Rs 96.72 per liter and diesel at Rs 90.08 per liter, Kolkata sees petrol at Rs 106.03 and diesel at Rs 92.76. In Chennai, petrol is priced at Rs 106.31, with diesel at Rs 94.24. Chhattisgarh experiences a reduction of 60 paise in petrol and 59 paise in diesel prices. In Uttar Pradesh, both petrol and diesel have increased by 20 paise.

City-wise Petrol and Diesel Rates in Maharashtra:

– Mumbai: Petrol Rs 106.31, Diesel Rs 94.27 per liter

– Pune: Petrol Rs 106.17, Diesel Rs 92.68 per liter

– Thane: Petrol Rs 106.01, Diesel Rs 92.50 per liter

– Nashik: Petrol Rs 106.54, Diesel Rs 93.05 per liter

– Nagpur: Petrol Rs 106.04, Diesel Rs 92.59 per liter

– Kolhapur: Petrol Rs 106.09, Diesel Rs 92.64 per liter

As global and domestic factors contribute to the complexities of fuel pricing, the current minor adjustments in Maharashtra reflect the nuanced nature of the market. Despite the recent dip in crude oil rates, the impact on petrol and diesel prices remains measured, prompting a watchful eye on future developments in the energy markets.