Petrol and diesel prices remained unchanged across major cities on Saturday, September 5, even as oil prices held near six-week highs amid the ongoing US-Iran conflict and its impact on Middle East crude supplies.
Brent crude edged up 0.32% on Friday to settle at $95.83 a barrel, while West Texas Intermediate crude eased 0.09% to $91.22 a barrel. Both benchmarks were headed for their sharpest weekly gain since mid-July, having risen more than 9% over the week.
Crude prices have stayed elevated amid renewed US-Iran hostilities, with Israel's defence minister threatening further strikes on Iranian infrastructure and Iran continuing to target shipping through the Strait of Hormuz. Washington has said it will not resume talks with Tehran until attacks on commercial vessels in the strait stop, while the European Union has formally joined the US-led sanctions campaign against Iran and South Korea has signalled it could take on a military role in the region.
At the same time, a drawdown in US crude inventories has lent support to prices. However, rising exports from Iraq, which shipped an average of 2.35 million barrels a day in August, along with expectations that OPEC+ will hold its output policy steady for October at its meeting this weekend, have helped cap further gains.
As state-run oil marketing companies kept fuel prices unchanged across Indian cities, here are the detailed city-wise petrol and diesel rates for today.
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Petrol Prices On September 5
- Petrol price in Delhi: Rs 102.12/litre
- Petrol price in Kolkata: Rs 113.51/litre
- Petrol price in Mumbai: Rs 111.21/litre
- Petrol price in Chennai: Rs 107.77/litre
- Petrol price in Hyderabad: Rs 115.69/litre
- Petrol price in Bengaluru: Rs 110.89/litre
Diesel Prices On September 5
- Diesel price in Delhi: Rs 95.20/litre
- Diesel price in Kolkata: Rs 99.82/litre
- Diesel price in Mumbai: Rs 97.83/litre
- Diesel price in Chennai: Rs 99.55/litre
- Diesel price in Hyderabad: Rs 103.82/litre
- Diesel price in Bengaluru: Rs 98.80/litre
What Drives Petrol and Diesel Prices?
While international crude prices are the base for determining domestic fuel prices, there are several other factors as well, such as the rupee-dollar exchange rate, refining costs, taxes, dealer margins, and others, which are considered by state-run oil marketing companies for determining fuel prices on a daily basis; thus, not all changes in international crude prices lead to changes in domestic fuel prices.
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