Fuel prices today, 15 November: Petrol and remained largely unchanged on Sunday (15 November), with most cities and states reporting no changes. However, petrol prices in Patna were up marginally, from Saturday’s ₹113.35 to ₹113.37.
Despite the Central government scrapping the additional excise duty on exports, fuel prices in the country have remained largely stable since the beginning of November.
The differences in fuel prices across states and cities occur due to several state-level taxes, including Value Added Tax (VAT), transportation costs and other local levies.
The stability in prices also comes amid the ongoing conflict in the , with the US-Iran war continuing since February this year. While the two sides have not finalised an agreement yet, they have largely refrained from engaging in hostilities again, which could once again impact global energy markets. Despite the conflict in the Middle East, Indian fuel retailers have refrained from passing on price fluctuations to consumers, giving them a breather from rising crude oil prices and keeping pump prices steady.
*Source: Good Returns
On Saturday (local time), Iran’s Islamic Revolutionary Guard Corps () Navy and the Armed Forces’ Navy said that at least three oil tankers exploded and caught fire after striking naval mines in and around the Strait of Hormuz. The development came as Iranian forces warned vessels against entering restricted maritime areas.
According to IRIB, in a recent statement, the said that two oil tankers, which were attempting to transit the strait without approval, exploded and caught fire after hitting mines.
The statement said, “An hour ago, two offending oil tankers, which were secretly attempting to transit the unauthorised Strait of Hormuz with their navigation and automatic identification systems turned off, exploded and caught fire after hitting naval mines.” It added, “After the explosion of these two tankers, two other tankers that were attempting to secretly pass through the Strait of Hormuz heeded warnings from the IRGC’s Naval Traffic Control Center and returned to the waters of the Persian Gulf.”
Earlier on Friday, Prime Minister , who was in Karnataka, said that the initiatives taken over the past decade had contributed greatly to boosting India’s energy security, helping the country deal confidently with challenges arising from the Middle East conflict. PM Modi also shed light on the progress made in India’s energy sector over the years.
He made these remarks at events in Bengaluru and Mysuru, where he inaugurated projects and laid the foundation stones for development initiatives worth more than ₹15,600 crore.
