Fuel prices across major Indian cities held firm on Monday despite rising Brent crude prices and ongoing Middle East tensions, with analysts warning of potential disruptions if geopolitical conflicts escalate.
Fuel prices were unchanged across major Indian cities on Monday even as Brent crude held near $88.50 a barrel after a sharp rise last week, according to LiveMint. The stability offered some relief to consumers, although it came against a backdrop of firmer global oil markets and renewed concern over Middle East tensions.
In New Delhi, petrol was listed at ₹102.12 a litre and diesel at ₹95.20. Mumbai posted the highest among the major metros cited, at ₹111.21 for petrol and ₹97.83 for diesel. Bengaluru saw petrol at ₹111.68 and diesel at ₹99.56, while Kolkata was quoted at ₹113.51 and ₹99.82. Chennai stood at ₹107.76 for petrol and ₹99.55 for diesel, with other cities including Gurugram, Noida, Hyderabad and Thiruvananthapuram also showing no change.
According to Reuters, AMP chief economist Shane Oliver said the market could remain trapped in a broad range unless tensions around Iran and the Strait of Hormuz ease, warning that a sustained disruption could tighten crude supply. LiveMint also reported that tanker traffic through the key shipping route remained halted amid stalled talks, while conflict in Lebanon added to geopolitical unease. Indian retail fuel prices, however, continue to be set by state-run oil marketing companies, which has helped cushion motorists from day-to-day swings in global crude.
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