The continual increase in the price of critical commodities has created worry for people everywhere, including in India. As inflation rises, the middle class has been taking the biggest blow.
However, some solace has come as fuel prices lower just before Navratri. As reported recently, petrol is priced at ₹98 per liter and diesel costs ₹93 per liter, giving the public some much needed relief.
The drop in crude oil prices appears to offer hope.
The reduction in fuel prices is, primarily, the result of a sustained fall in international crude oil rates. In accordance with ICRA, a leading credit rating agency, the continuing downward shift might lead to even lower prices for petrol and diesel in the near future. This forecasting is a good omen for those facing financial difficulties brought on by rising costs.
Maharashtra is preparing for its forthcoming elections.
The forthcoming Maharashtra state elections, which are to take place in early November, are also impacting the decrease in fuel prices. According to news reports, the projected announcement of final election dates is for mid-October, and cutting fuel prices could be an effort to ease public strains during that time.
Major City Rates for Petrol and Diesel
Here’s a quick glance at the current fuel prices across key Indian cities:
- Delhi: ₹94.72 for Petrol, ₹84.62 for Diesel
- Mumbai: Petrol is now ₹104.21, with Diesel at ₹92.15.
- Kolkata: The prices are Petrol – ₹103.94 and Diesel – ₹91.76.
- Chennai: Petrol — ₹100.75, and Diesel — ₹92.34.
- Bengaluru: Petrol – ₹102.84; Diesel – ₹88.95.
Region Specific Variations in Fuel Prices
The fuel prices in India differ from one state to another. For example:
- Andaman & Nicobar: Petrol – ₹82.42, Diesel – ₹78.01
- Bihar: Petrol is at ₹105.18, and diesel sells for ₹92.04.
- Madhya Pradesh: Petrol is going for ₹106.47, while Diesel is selling for ₹91.84.