Fuel prices in India and Pakistan remain stable amid global oil volatility

Fuel prices in India and Pakistan remain largely stable despite rising international crude oil costs driven by geopolitical tensions between the US and Iran. In India, state-run oil marketing companies have kept petrol and diesel rates unchanged in major cities, including Delhi, Mumbai, and Chennai. However, local variations persist due to differing state taxes, with Hyderabad recording some of the highest petrol prices.

In the LPG sector, domestic cooking gas prices remain below market rates, with the Indian government providing subsidies to compensate retailers. Officials noted that the revenue loss for state fuel retailers on LPG sales has narrowed compared to previous months. Additionally, consumers are reminded of the August 16 deadline to complete e-KYC to maintain gas subsidies.

In Pakistan, the federal government has maintained petrol and high-speed diesel prices. To manage volatility caused by Middle East tensions and potential disruptions in the Strait of Hormuz, the government has transitioned to a daily fuel price review mechanism based on a seven-day average of international market prices.