Fuel Rates Steady Across Indian Cities As Crude Oil Prices Climb
· Business · LiveMint, Indian Express
Petrol and diesel prices remained unchanged across major Indian cities on Saturday as state-owned retailers insulated domestic consumers from global crude volatility. Brent crude futures capped a weekly gain of 6.39%, settling at $94.39 a barrel, driven by US sanction threats on Iran. West Texas Intermediate rose 5.66% over the week to close at $87.06 a barrel. Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd kept pump prices steady following their last major price adjustment on 25 May. Meanwhile, international diplomatic tensions escalated as US President Donald Trump threatened economic penalties on Iran's trading partners, drawing pushback from Beijing and Tehran.
Why it matters
Indian consumers remain shielded from rising global crude prices for now, but sustained increases could eventually pressure domestic inflation and fuel budgets.
Read the original report — LiveMint
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