Crude Oil at $96 Per Barrel on April 13: When Will Petrol and Diesel Prices in India Fall?
Crude Oil at $96 on April 13, 2026 — India's Petrol Price: When Will It React?
Brent crude oil eased to approximately $96 per barrel on April 13, 2026, a notable retreat from the $109 peak touched in late March as US-Israeli military operations near Iran's oil infrastructure sent shockwaves through global energy markets. With a $13/barrel correction in place, the spotlight now turns to India — and when (or if) this relief will trickle down to retail fuel consumers.
Crude Oil Price Timeline — February to April 2026:
Month | Avg Crude Price | Key Event |
|---|---|---|
February 2026 | $82–86/barrel | Stable OPEC+ output |
March 1–15 | $88–95/barrel | US-Israel-Iran conflict escalates |
March 16–31 | $99–109/barrel | Hormuz disruption fears peak |
April 1–7 | $100–103/barrel | Ceasefire talks begin |
April 8–13 | $96–99/barrel | Partial supply normalisation |
India's Crude Import Cost (April 13, 2026):
USD/INR: ₹93.09
Brent Price: $96/barrel
Cost per barrel in INR: ₹89,366
Cost per litre in INR: ₹562 (1 barrel = 159 litres)
After refining + taxes + marketing: Petrol comes to ~₹92/litre
At ₹94.77 retail (Delhi), OMCs have a slim ~₹2.77/litre buffer — barely enough to absorb the LPG under-recovery hit.
What Experts Say:
Energy economists argue that a meaningful petrol price cut (₹3–5/litre) would require crude to consistently trade below $88–90/barrel for 4–6 weeks — something not yet confirmed. The current dip to $96 is seen as a relief rally from crisis levels, not a structural downturn in crude.
The LPG Complication: India's OMCs are losing ~₹380 per domestic LPG cylinder. Cumulative losses could hit ₹40,484 crore by May 2026. Any savings from petrol/diesel margins are being used to offset these LPG losses, making a net price cut politically easy but financially complex.
Impact on Your Monthly Fuel Budget:
Vehicle Type | Monthly Fuel Use | Saving @ ₹4 Cut | Saving @ ₹2 Cut |
|---|---|---|---|
Car (petrol) | 40 litres | ₹160/month | ₹80/month |
Bike (petrol) | 15 litres | ₹60/month | ₹30/month |
Auto (CNG) | 60 kg | N/A (separate) | N/A |
Truck (diesel) | 300 litres | ₹1,200/month | ₹600/month |
Bottom Line: Monitor crude oil closely over the next 4–6 weeks. If Brent settles below $90 and post-election political headroom opens up, a June 2026 petrol price cut of ₹2–4/litre is realistic. Until then, prices stay at current levels.
