Petrol, diesel prices on 14 April in your city: Petrol and diesel prices are revised daily but these fuel prices remain largely unchanged on Tuesday. Although Indian equity markets remained closed on 14 April on account of Ambedkar Jayanti public holiday, but Asian peers opened higher amid easing oil prices and renewed hopes of a potential US-Iran deal. Optimism surrounded the market after US Vice President JD Vance suggested the possibility of diplomatic engagement between Washington and Tehran.
The ongoing West Asia conflict has caused disruption in the global fuel supply chain, causing an upward push in energy prices. However, India’s retail inflation has largely remained insulated from the impact so far, according to a report by Crisil Intelligence.
“Despite a full month since the onset of the conflict, retail inflation showed a relatively low impact of the energy shock.” the report said. According to Crisil, Brent crude prices rose by about 45 per cent in March while international natural gas prices spiked nearly 69 per cent compared with February. Hence, the spillover impact of domestic retail inflation has been muted.
Check city-wise latest petrol and diesel rates applicable today:
Due to an increase in food and fuel prices as a result of global fuel supply shortage, India’s Consumer Price Index (CPI)-based inflation rose by 3.4 per cent in March from 3.2 per cent in February. Highlighting the impact of the global energy shock, the report alleged that government measures helped cushion consumers from rising global fuel costs.
To shield households from price pressures, the Center last month announced cuts on excise duty. Meanwhile, core inflation remained stable at 3.7 per cent. Moreover, correction in global prices of gold and silver helped contain overall inflation.
Brent crude rate today
Brent crude, the international benchmark, traded around $97.99 per barrel after touching a low of $96.60. Market sentiment improved globally and reflected in the S&P 500 index which gained 0.6 per cent in late trading after recovering from an earlier dip. At the same time the Dow Jones Industrial Average rose 102 points (0.2 per cent). A day after Nasdaq reached its highest level since before the conflict, the tech-heavy Nasdaq Composite outperformed on Monday, climbing 0.8 per cent.
