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Petrol and diesel prices stood at over Rs 100 and Rs 90 in metropolitans, respectively. (File Photo)
Amid the global energy crisis triggered by the war in West Asia, prices of fuels, except for that of LPG, remained stable in Indian markets on Friday. A day earlier, there were reports of a notable decline in panic booking among household consumers of LPG.
As of Friday afternoon, Brent crude futures recorded $109 per barrel, while WTI recorded $95. On Thursday, Brent crude had surged past $114 per barrel, whereas WTI was trading above $97.
The prices of petrol, diesel and CNG remained relatively stable, on the other hand LPG prices across several cities increased – by Rs 60 for domestic cylinders and Rs 144 for commercial cylinders – over the last month.
With about half of India’s LPG imports flowing through the Strait of Hormuz, and 33 crore households dependent on the fuel, a fear of shortages had triggered panic booking among consumers. However, the cylinder bookings are now close to the pre-war levels, the government said on Thursday.
The surge in bookings had prompted the government to invoke the Essential Commodities Act last week, prioritising steady supplies to households and directing refineries to ramp up production.
As of Friday, the price of a domestic LPG cylinder is over Rs 900 (for domestic cylinders) and Rs 1800 (for commercial cylinders). Patna reported the highest LPG prices, at Rs 1,002.50.
CNG stood in a wide range across cities, between Rs 75 and Rs 95, although fairly stable. Highest CNG prices were reported in Hyderabad, at Rs 96.
Petrol and diesel prices stood at over Rs 100 and Rs 90 in metropolitans, respectively.
On crude prices, Hindustan Petroleum wrote on X: “There is no need to panic. Additional crude oil cargoes are already on their way, and supply will become even stronger in the coming days. Adequate arrangements have been made to meet the country’s energy needs.”
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