State‑run oil marketing companies have kept petrol and diesel prices unchanged on July 12, as fuel rates remain at the levels set after the late‑May hike. This means motorists across major metros are paying the same prices as in recent weeks, even as global crude markets stay volatile.
Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to follow the daily dynamic pricing system, under which pump rates can be adjusted every morning based on global crude prices and currency movements.
Last week, Oil Minister Hardeep Singh Puri suggested that reducing local fuel costs is not an option at this time.
Fuel prices in the nation have escalated four times over the last four months amid the Iran war, increasing by about Rs 7.5-8 per litre during the period.
ALSO READ: Global Shipping At Risk? Hormuz Traffic Grinds To A Near Standstill After Iran-US Strikes
Petrol prices on July 12
Petrol Price in Delhi: Rs 102.12 per litre,
Petrol Price in Mumbai: Rs 111.21 per litre
Petrol Price in Kolkata: Rs 113.51 per litre
Petrol Price in Chennai: Rs 108.01 per litre
Petrol Price in Hyderabad: Rs 115.73 per litre
Petrol Price in Bengaluru: Rs 98.80 per litre
Diesel prices on July 12
Diesel Prices in Delhi Rs 95.20 per litre
Diesel Prices in Mumbai: Rs 97.83 per litre
Diesel Prices in Kolkata: Rs 99.82 per litre
ALSO READ: US Launches Third Round Of Strikes Against Iran Following Commercial Ship Strike In Hormuz
Diesel Prices in Chennai: Rs 99.66 per litre
Diesel Prices in: Hyderabad: Rs 103.82 per litre
Diesel Prices in Bengaluru: Rs 98.82 per litre
Oil prices settled after a turbulent week, but the US launched a new round of strikes in the Strait of Hormuz, even as efforts continued to bring Washington and Tehran back to the table. Brent crude slipped under $76 a barrel, having slipped over 0.02% on Friday, while West Texas Intermediate traded below $72. Crude prices could increase again as US launched new round of strikes in strait of Hormuz on Sunday. Following these strikes Iran's revolutionary Guards announced the closure of the strait.
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