Why have petrol prices barely moved despite sharp drop in global crude rates- 3 key factors

Have you wondered why the retail petrol and diesel prices in India have remained largely unchanged since August 2022, even as global crude oil prices saw a sharp move and domestic refining margins cooled?

For example, at Delhi pumps, petrol was priced at Rs 96.72 per litre in August 2022, before being cut to Rs 94.72 in March 2024. In October 2024, this rate was revised to Rs 94.77, which remained the same as of December 2025.