TL;DR
Petrol and diesel prices remained stable in major Indian cities on October 3rd, despite rising global crude oil prices, with state-run companies absorbing the financial impact.
Petrol and diesel prices in India's major metropolitan areas largely held steady on October 3rd, despite global crude oil prices hovering above $102 per barrel. This stability comes as state-run oil marketing companies are reportedly absorbing the impact of rising international crude, facing a significant financial squeeze.
The national average for petrol was recorded at ₹111.21 per litre, while diesel stood at ₹97.83 per litre. In Mumbai, petrol retailed at ₹111.21 and diesel at ₹97.83, mirroring the previous day's rates. Delhi residents saw petrol priced at ₹102.12 per litre and diesel at ₹95.20 per litre, reflecting the capital's comparatively lower fuel costs.
Industry experts, including rating agency ICRA, estimate that fuel retailers are incurring daily losses of approximately ₹530 crore as domestic pump prices for petrol, diesel, and cooking gas remain unchanged despite the upward trend in international crude prices. Brent crude was noted at $102.3 per barrel and WTI crude at $91.11 per barrel on October 3rd.
