Prices pulled back during the most recent session on September 12, with Brent crude futures settling at $104.61 a barrel and West Texas Intermediate (WTI) closing at $100.05, maritime conditions around the Strait of Hormuz have dramatically deteriorated.
However, Prices surged to multi-month highs, with Brent reaching $107.63 and WTI hitting $102.48 on September 11 amid ongoing US-Iran friction and supply disruption concerns.
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State-run oil marketing companies in India face growing pressure from rising crude costs, yet domestic fuel rates remain steady. Retail petrol and diesel prices have seen no immediate revisions since May 25, when a Rs 7.5-per-litre hike was implemented.
Here are the statewise Petrol and Diesel prices-
| City | Petrol (Rs/litre) | Diesel (Rs/litre) |
| Delhi | 102.12 | 95.20 |
| Kolkata | 113.51 | 99.82 |
| Mumbai | 111.21 | 97.83 |
| Chennai | 107.77 | 99.55 |
| Hyderabad | 115.69 | 103.82 |
| Bengaluru | 110.89 | 98.80 |
Rising crude prices and Middle East supply friction coincided with a 6.3% drop in India's August fuel demand, which hit a near two-year low of 18.61 million metric tons. PPAC figures show consumption pulling back just as Brent crude breached the $100-a-barrel mark.
Domestic fuel rates reflect a combination of international benchmark crude, the rupee's exchange value against the dollar, refining margins, dealer commissions, and applicable taxes. Because public sector oil marketing companies factor in these combined costs, shifts in global crude prices do not automatically result in swift changes at local petrol pumps.
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