5 days ago
Indian Fuel Prices Hold Steady as Crude Heads Lower
Fuel prices in many Indian cities stayed almost the same on 28 August.
In New Delhi, a litre of petrol cost ₹102.12 and diesel cost ₹95.20.
Mumbai and Bengaluru had different prices because fuel prices vary between cities.
Oil prices around the world fell slightly and were heading toward a weekly loss.
Indian fuel companies have mostly protected consumers from these global changes.
Talks involving the United States and Iran remained stalled, adding uncertainty to oil markets.
Congress leader Randeep Surjewala also accused the government of helping hoarders and black-marketeers in a sugar-price controversy.
The government’s position on that accusation was not stated in the article.
Petrol and diesel prices remained largely unchanged across major Indian cities on 28 August.
In New Delhi, petrol cost ₹102.12 per litre and diesel ₹95.20 per litre.
Prices were ₹111.21 and ₹97.83 in Mumbai, and ₹110.82 and ₹98.77 in Bengaluru, respectively.
Brent crude fell 0.3% to about $89.45 a barrel, while WTI declined 0.3% to around $83.31.
Congress leader Randeep Surjewala accused the Centre of enabling a ₹36,000-crore sugar scam amid rising sugar prices.
- Who
- State-owned Indian oil marketing companies, Congress general secretary Randeep Surjewala, and officials involved in US-Iran diplomacy.
- What
- Indian petrol and diesel prices stayed largely unchanged while global crude prices declined; Surjewala separately alleged a ₹36,000-crore sugar scam.
- Where
- Major Indian cities, including New Delhi, Mumbai and Bengaluru; the diplomatic developments involved the United States, Iran and Qatar.
- When
- 28 August; fuel rates were revised at 6:00 AM daily, according to the article.
- Why
- Fuel retailers were described as shielding domestic consumers from global price volatility, while crude prices fell amid continuing uncertainty surrounding US-Iran tensions.
Government and Fuel-Retailing Position
Opposition and Price-Pressure Claims
Domestic fuel pricing
Government and Fuel-Retailing Position
State-owned fuel retailers were described as shielding consumers from global oil-price volatility, leaving petrol and diesel rates largely steady.
Opposition and Price-Pressure Claims
The article notes that daily dynamic pricing still permits marginal changes, while falling global crude prices had not led to a major domestic revision since 25 May.
Sugar prices and alleged losses
Government and Fuel-Retailing Position
No response from the Centre to the sugar-scam allegation was provided in the article.
Opposition and Price-Pressure Claims
Randeep Surjewala alleged that the Centre facilitated a ₹36,000-crore scam benefiting hoarders and black-marketeers, warning that consumers could pay more during Dussehra and Diwali.
US-Iran diplomacy
Government and Fuel-Retailing Position
The White House said Donald Trump continued to retain all options and that negotiations were not currently taking place until Iran came to the table meaningfully.
Opposition and Price-Pressure Claims
Qatar’s prime minister urged a return to diplomacy, while Iranian officials called on neighboring countries to prevent the United States from using their territory for attacks on Iran.
Key facts
- New Delhi fuel rates
- Petrol ₹102.12 per litre; diesel ₹95.20 per litre.
- Mumbai fuel rates
- Petrol ₹111.21 per litre; diesel ₹97.83 per litre.
- Bengaluru fuel rates
- Petrol ₹110.82 per litre; diesel ₹98.77 per litre.
- Brent crude
- Down 0.3%, or 25 cents, to about $89.45 a barrel.
- WTI crude
- Down 0.3%, or 22 cents, to about $83.31 a barrel.
- Weekly crude performance
- Brent was down 5.3% for the week and WTI was down 4.3%.
- Sugar allegation
- Randeep Surjewala alleged a ₹36,000-crore scam linked to rising sugar prices from ₹40 to ₹75 per kilogram.
Quotes
Karoline Leavitt
White House press secretary
“No negotiations are happening right now, and this will continue until the president feels that maybe they come to the table in a meaningful way.”
livemint.com
“We've had Operation Epic Fury to destroy their military. Now we have Operation Economic Outcast to destroy their economy.”
livemint.com
Randeep Surjewala
Congress general secretary
“When people celebrate Dussehra and Diwali, they will face the brunt of the price rise of sugar this year and shell out more from their pockets. The 12 million tonnes of sugar will amount to ₹36,000 crore, which will directly benefit hoarders and black-marketeers. What could be a bigger example of collusion with those in power?”
livemint.com
Sources
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