On April 8th, 2024, petrol and diesel prices witnessed a notable increase in several districts of Madhya Pradesh (MP). This rise coincided with a decline in global crude oil prices, marking a significant shift in the fuel market dynamics.
Global crude oil prices fell once again, dipping below the $90 per barrel mark. Brent crude, on April 8th, traded at $89.70 per barrel, experiencing a decrease of 1.161%. Similarly, WTI crude prices reached $85.56 per barrel, indicating a downward trend in the oil market.
In MP, various districts saw fluctuations in fuel prices as oil companies released new rates on Monday
Among these changes, Mandal and Chhatarpur experienced a one-rupee increase in petrol prices. Additionally, other districts such as Agar Malwa, Alirajpur, Badwani, Balaghat, Betul, Harda, Hoshangabad, Indore, Jabalpur, Katni, Mandsaur, Narsinghpur, Panna, Rajgarh, Sagar, Rewa, Seoni, Shahdol, and Shajapur observed a hike in fuel prices as well. Conversely, districts like Anuppur, Ashoknagar, Bhind, Bhopal, Chhindwara, Dindori, Gwalior, Jabalpur, Khandwa, Khargone, Morena, Ratlam, Sehore, Shivpuri, Sidhi, Singrauli, Tikamgarh, Ujjain, and Vidisha witnessed a reduction in fuel prices.
Moreover, fluctuations in petrol and diesel rates were noted in other states as well
Bihar, Chhattisgarh, Himachal Pradesh, Karnataka, Maharashtra, Odisha, Rajasthan, Telangana, and Uttar Pradesh experienced an increase in petrol and diesel prices. Conversely, relief was provided in Manipur, Jharkhand, Haryana, and Goa.
For instance, the price of one liter of petrol in Bhopal stood at Rs. 106.31, while in Gwalior, it was Rs. 106.40, in Indore Rs. 106.92, in Jabalpur Rs. 106.49, in Rewa Rs. 106.06, in Chhindwara Rs. 107.86, in Chhatarpur Rs. 108.76, in Mandal Rs. 108.10, in Rewa Rs. 108.09, and in Ujjain Rs. 106.84. Meanwhile, the price of one liter of diesel in Bhopal was Rs. 91.70, in Indore Rs. 92.29, in Mandal Rs. 92.76, in Rewa Rs. 94.24, in Jabalpur Rs. 91.88, and in Ujjain Rs. 92.21.
These fluctuations in fuel prices underscore the intricate interplay between global market forces and local economic factors, impacting consumers and industries across the board.