SRINAGAR: India’s crude oil import prices have increased almost fourfold over the past two decades, rising from Rs 1,762 per barrel in 2004-05 to Rs 6,643 per barrel in 2024-25, according to official data placed before the Lok Sabha on Thursday. Petrol prices in New Delhi have also nearly doubled over the same period, reaching an average of Rs 94.74 per litre in 2024-25.
The Ministry of Petroleum and Natural Gas shared year-wise data showing a steady climb in the Indian basket of crude oil from 2004 until it peaked at Rs 7,488 per barrel in 2022-23, before easing slightly in the following years. The steepest increases were recorded between 2010 and 2014, and again in the post-pandemic period.
Petrol prices in the national capital followed a similar trajectory. The yearly average rose from Rs 36.61 per litre in 2004-05 to Rs 69.76 per litre in 2013-14. After a brief dip in 2014-15 and 2015-16, rates resumed an upward trend, hitting a high of Rs 98.05 per litre in 2021-22. Prices have moderated since then but remain well above pre-2014 levels.
The data was shared in response to a question from MP Bag Mitali, who sought comparative year-wise details of crude oil and petrol prices between 2004-2014 and 2014-2024.
