Petrol Diesel Price Today: Brent Crude Hits Dollars 110, Check Rates In Delhi, Mumbai And Other Cities

New Delhi: Crude oil prices are once again rising in the international market. On Sunday, the price of Brent crude reached the level of 110 dollars per barrel. There has been increased volatility in the oil market as the price of crude oil reached this level for the first time since May. However, it is a matter of relief for the common people that there has been no change in the retail prices of petrol and diesel in the country today. At present, prices at petrol pumps of government oil companies remain stable.

How expensive is petrol and diesel today in Delhi, Mumbai and Kolkata?

The prices of petrol and diesel remain different in major cities of the country. Petrol prices are higher in Mumbai and Kolkata compared to Delhi. As per available information, fuel prices in major cities on October 18 are as follows.

According to these data, Hyderabad has the highest prices of both petrol and diesel among the cities included in the list. At the same time, prices are comparatively lower in Delhi and some cities of Uttar Pradesh. There is variation in fuel prices in different states due to VAT and local taxes.

When did the prices of petrol and diesel increase in May?

According to the information given in the report, in May, oil marketing companies had increased the prices of petrol and diesel four consecutive times. After this, the overall prices of both the fuels increased by about Rs 7.50 per liter. Consumers are relieved as there has been no new change in prices since then.

However, increasing crude oil prices in the international market may put pressure on fuel prices in future. But the rise in the price of Brent crude does not mean that the prices of domestic petrol and diesel will increase immediately. The decision to change prices also depends on the policies of oil companies and market conditions.

What is the reason for the rise in crude oil prices?

Global geopolitical tensions and uncertainty over oil supply may affect crude oil prices. There is a possibility of supply disruption in the market due to the Russia-Ukraine conflict and tensions in West Asia. In such a situation, traders may be worried about the availability of oil in the future, due to which fluctuations in prices are seen.

America's policies related to Russia and Iran are also important for the global energy market. Potential changes in sanctions, oil purchase agreements and international trade conditions could affect crude oil prices. However, no single event can be considered the sole reason for the rise in prices.

Will the prices of petrol and diesel increase in India?

India fulfills a major part of its requirement through import of crude oil. Therefore, the increase in the price of crude oil in the international market may affect the country's import bill and the costs of oil companies. Despite this, domestic petrol and diesel prices depend on many factors, including the exchange rate of rupee and dollar, taxes, transportation costs and pricing policies of oil companies.

According to the information available at present, there has been no change in the prices of petrol and diesel in major cities on October 18. Consumers should get information from the official platform of the concerned oil company or petrol pump to know the exact price of their city.