Petrol-Diesel Price Today: Today, on April 8, despite the huge fall in the prices of crude oil in the international market, the retail prices of petrol and diesel in major cities of the country currently remain stable. India’s three major oil marketing companies (OMCs) – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) – revise fuel prices every day in accordance with changes in global crude oil prices and foreign currency exchange rates. However, in recent times the companies have not made any change in the prices of normal fuel.

Crude oil prices fell

US President Donald Trump has decided to postpone a possible attack on Iran for two weeks. He has also proposed a ‘two-sided ceasefire’, but it has been conditioned that Iran opens the Strait of Hormuz completely and safely. Since 20 percent of the world’s crude oil passes through this route, its closure is causing oil prices to skyrocket. Now, with this announcement by Trump, the concerns regarding energy supply in the market have been removed to some extent.

With this announcement of Trump, today the price of West Texas Intermediate or US crude variant has fallen by 17 percent to near the level of $ 95 per barrel. At the same time, Brent crude has also fallen by about 16 percent and reached the level of $92.

Price of petrol and diesel in major cities of the country

City	Petrol (price per liter)	Diesel (price per liter)
Delhi	Rs 94.77	Rs 87.67
Mumbai	Rs 103.54	Rs 90.03
Kolkata	Rs 105.45	Rs 92.02
Chennai	Rs 100.80	Rs 92.39
Bengaluru	Rs 102.92	Rs 90.99
Lucknow	Rs 94.65	Rs 87.76
Jaipur	Rs 104.88	Rs 90.36
Patna	Rs 105.18	Rs 92.04
Guwahati	Rs 93.23	Rs 89.46

Why did the prices not reduce?

After the huge fall in the prices of crude oil in the international markets, now a question may come to mind that why the prices of petrol and diesel have not reduced in the country? In fact, it may usually take up to 7-10 days for the impact of falling prices in the global market to be visible at domestic petrol pumps. Market analysts believe that if this crude oil remains below 95 dollars for a long time, then government oil companies may soon announce price cuts for the general public.

Also read:

Crude Oil Price Crash: An announcement by Trump and in one stroke the price of crude oil fell below 100 dollars, know the latest price.