On Wednesday, several states, including Madhya Pradesh, witnessed changes in petrol and diesel prices due to fluctuations in global crude oil markets. The cost of crude oil has seen a recent upswing, impacting fuel prices worldwide.
Global Crude Oil Trends
Brent crude is currently trading at $82.35 per barrel with a 0.52% increase, while WTI crude has risen by 0.57% to $78 per barrel. In India, petrol and diesel prices are determined based on the dynamic fuel pricing system, reflecting the ups and downs in the global market. Oil companies have consequently adjusted the rates for various fuels in response to the new prices of crude oil.
Changes in States on March 12
Several states, including Andhra Pradesh, Gujarat, Haryana, Kerala, Madhya Pradesh, Manipur, Nagaland, Odisha, Telangana, and Uttar Pradesh, experienced a surge in fuel prices. On the other hand, Assam, Bihar, Chhattisgarh, Himachal Pradesh, Jammu and Kashmir, and West Bengal witnessed a marginal decrease. In Delhi, the current petrol price stands at ₹96.72 per liter, and diesel is priced at ₹89.62 per liter.
Metropolitan Cities Overview
- In Kolkata, petrol costs ₹106.03, and diesel is priced at ₹92.76 per liter.
- Mumbai witnesses petrol rates at ₹111.35 and diesel at ₹97.28 per liter.
- Chennai experiences petrol prices at ₹102.63 and diesel at ₹94.24 per liter.
Changes in Fuel Prices in Madhya Pradesh Cities
Several cities in Madhya Pradesh have seen an increase in fuel prices. In Bhopal, petrol prices have reached ₹108.65 per liter, and diesel is priced at ₹93.90 per liter, reflecting a rise of 33 paise. Indore experiences petrol rates at ₹108.58 per liter and diesel at ₹93.86 per liter. Jabalpur sees petrol at ₹108.68 and diesel at ₹93.96 per liter, while Ujjain has petrol priced at ₹108.28 per liter and diesel at ₹94.49 per liter.
The fluctuations in fuel prices, particularly the recent surge, are primarily driven by changes in global crude oil prices. Consumers are advised to stay informed about the dynamic nature of fuel rates and adjust their budgets accordingly. As the situation in the global oil market continues to evolve, fuel prices are likely to remain susceptible to further adjustments. Commuters and industries alike should keep a close eye on these changes to navigate the economic landscape effectively.