Fuel Prices Hold Steady Amid Global Oil Surge

Fuel Prices Hold Steady Amid Global Oil Surge
Petrol and diesel prices remained stable across major Indian cities on April 11, despite crude oil climbing above $100 per barrel following Middle East disruptions. The government's excise duty cuts and oil company measures have insulated domestic consumers from international volatility. Jio-BP, the country's second-largest private fuel retailer, confirmed no immediate price increases planned. However, competitors Nayara Energy and Shell India raised prices at select outlets, with Nayara increasing petrol by five rupees per liter and diesel by three rupees. The price stability reflects coordinated efforts to manage inflation concerns while global supply chains face ongoing pressures from geopolitical tensions affecting the critical Strait of Hormuz shipping route.