Fuel Prices on April 4: Petrol, diesel rates unchanged across major cities

Oil benchmarks jumped 6 percent on April 3, the day after the OPEC+ group jolted markets.

Petrol and diesel prices held steady across metro cities on April 4, the latest price notification issued by fuel retailers showed.

Petrol and diesel in Delhi cost Rs 96.72 per litre and Rs 89.62 a litre, respectively. In Mumbai, petrol is being sold for Rs 106.31 per litre and diesel for Rs 94.27 per litre.

In Chennai, prices of petrol and diesel stands at Rs 102.63/litre and Rs 94.24/litre, respectively, while in Kolkata both fuels are priced at Rs 106.03/litre and Rs 92.76/litre, respectively.

Also Read | India extends export curbs on gasoline, diesel

Meanwhile, a surprise cut in oil production from OPEC+ is now setting the stage for other producers to vie for markets in Asia.

Since the Organization of Petroleum Exporting Countries started managing supplies more actively in 2017, member states have privileged flows to Asia at the expense of countries like the US.

Refiners in Asia will also be able to process those lighter oil grades, and American fuelmakers could find themselves in competition with buyers from Asia. Read more.

Also, Oil benchmarks jumped 6 percent on April 3, the day after the OPEC+ group jolted markets with plans to cut more production, raising fears of tightening supplies while some warned of reduced demand if oil refiners flinch at paying higher prices for crude.