Petrol, diesel prices on April 18: Check rates in your city

Petrol and diesel prices remained the same on Tuesday in major cities like Delhi, Bengaluru, and Kolkata compared to the previous day, according to Goodreturns. However, minor fluctuations in prices were observed in cities such as Gurugram, Noida, and Lucknow. Check the latest rates in your city.

Looking at the prices in other cities: cost of one litre of petrol in Noida is ₹ 96.77, while diesel is priced at ₹ 89.94. In Gurugram, petrol costs ₹ 97.10 per litre, and diesel rate stands at ₹ 89.54 per litre. Meanwhile, in Lucknow, petrol can be bought at ₹ 96.57 per litre, and diesel at ₹ 89.76 per litre.

Petrol and diesel prices in India are closely linked to the international prices of crude oil, and the responsibility of revising these prices rests with oil marketing companies such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum. When crude oil prices rise globally, petrol prices in India follow suit and experience a corresponding increase, while a fall in international crude oil prices leads to a decline in daily or current petrol prices in India. Notably, these oil marketing companies adjust fuel retail prices every day at 6 am in accordance with the prevailing price of crude oil worldwide.

Starting from 2017, petrol prices in India undergo daily revisions, which marks a significant deviation from the prior practice of revising petrol prices every two weeks.

Oil prices remained stable in early trading on Tuesday after experiencing a 2% decline in the previous session, news agency Reuters reported. Market participants are closely watching the release of economic data in China, hoping for signs of economic growth and recovery that can offset the waning demand in other regions.