Petrol, Diesel Rates On 16 April - Check Fuel Prices Today In Delhi, Mumbai, Chennai, Kolkata, Bengaluru & Other Cities

(MENAFN- Live Mint) In India's domestic market, petrol and diesel prices at state-run outlets remain steady today, even as aviation fuel and commercial gas prices continue to reflect earlier volatility.

As of 8:41 AM, retail fuel rates in major cities are unchanged.

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Globally, oil benchmarks have pulled back from recent highs as markets look for a possible diplomatic resolution to the West Asia conflict.

Brent crude is trading between $94.75 and $95.60 per barrel, while U.S. WTI crude is hovering around $90.90 to $91.90. Russia's Urals crude stands at $117.46 per barrel, down 2.78%.

Also Read | Oil slips despite Hormuz tensions as Iran-US talks offer hope

Overall, Brent prices have dropped about 10% over the past week since the initial ceasefire, though they remain roughly 44% higher compared to a year ago due to earlier price surges.

100% domestic LPG, PNG supply ensured amid West Asia crisis: Govt

The Government of India ensured 100 per cent supply of Piped Natural Gas (PNG) and Liquefied Petroleum Gas (LPG) to domestic consumers by prioritising their requirements amid energy disruptions caused by the ongoing West Asia crisis, ANI reported.

Speaking at an Inter-Ministerial briefing on recent developments in West Asia, Sujata Sharma, Joint Secretary (Marketing & Oil Refinery) in the Ministry of Petroleum & Natural Gas, stated that the government implemented several effective measures to stabilise the energy landscape and maintain essential services.

Also Read | Pricey oil may hit India's growth, but strong fundamentals offer a cushion: S&P

"As you know, due to the West Asia crisis, India's energy supplies were also affected. But the Indian government has taken many effective steps, due to which 100% supply has been ensured by prioritising domestic PNG and LPG consumers. Apart from this, CNG transport has also been 100% ensured," Sharma said.

Additionally, City Gas Distribution (CGD) companies were directed to ensure full gas supply to critical industries, while 95% of the natural gas needs of the fertiliser sector were fulfilled.

Also Read | US Iran War News LIVE: Iran warns to 'sink American ships'

To curb market malpractices, authorities set up control rooms across all states and union territories. Monitoring teams carried out 2,100 surprise inspections, resulting in penalties for 237 distributors and the suspension of 58 others to prevent hoarding and black marketing.

"Finally, I would like to say to the citizens of the country through you that we have sufficient supplies available. And as required, LPG, petrol and diesel should be used," Sharma stated.

Middle East war: Tankers intercepted

In the first 48 hours of the U.S. naval blockade of Iranian ports, no ships managed to pass through, according to the U.S. military. Nine vessels followed US instructions to turn back toward Iranian ports or nearby coastal areas, Reuters reported.

However, Iran's Fars News Agency reported that a sanctioned Iranian supertanker was able to cross the strait and head toward Imam Khomeini port despite the blockade, though it did not provide details about the vessel or its journey.

Iran's joint military command warned it would halt trade flows in the Gulf, the Sea of Oman and the Red Sea - which connects to the Suez Canal - if the U.S. blockade continued.

(With inputs from agencies)

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