Crude oil prices climbed further on Friday, Sept. 11, with Brent crude trading near $109 a barrel and West Texas Intermediate above $103 as escalating tensions in the Middle East continued to raise concerns over global oil supplies. Both benchmarks have gained nearly 13% over the week, the highest weekly gains since the week ended on July 17.
While prolonged disruptions at the Strait of Hormuz are keeping crude prices elevated, additional risks from attacks around the Red Sea and Saudi Arabia are also keeping traders on edge.
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For India, the surge in international crude prices is increasing pressure on oil marketing companies. However, there has been no immediate revision in retail fuel prices. State-run oil marketing companies have kept the petrol and diesel prices unchanged since May 25, when the rates were increased by Rs 7.5 a litre.
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Here are the petrol and diesel prices across major Indian cities.
Also Read: Oil Prices Rally Over 6%: Brent Crude Nears $109 As Houthis Advance Towards Key Red Sea Chokepoint
Petrol prices on September 11
- 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 11
- Diesel price in Delhi: Rs 95.20/litre
- Diesel price in Kolkata: Rs 99.82/litre
- Diesel price in Mumbai: Rs 97.83litre
- Diesel price in Chennai: Rs 99.55/litre
- Diesel price in Hyderabad: 103.82/litre
- Diesel price in Bengaluru: 98.80/litre
What Drives Petrol and Diesel Prices?
Since state-run oil marketing companies determine domestic fuel prices based on the rupee-dollar exchange rate, refining costs, taxes, and dealer margins, apart from global crude prices alone, even though international crude prices are climbing with each passing day, prices of petrol and diesel across India remain the same.
Also Read: Asian Markets Sell Off: Nikkei, Kospi Slide 3% As Brent Nears $110
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