Indian motorists faced no change in petrol and diesel rates despite global oil prices climbing due to rising Middle East tensions and concerns over Strait of Hormuz disruptions.
Indian motorists saw no respite on Monday as fuel retailers left petrol and diesel prices unchanged, even after crude prices climbed in overseas trade. State-run oil marketing companies carried out their routine 6:00 a.m. revision without passing on any increase to consumers, keeping rates steady across major cities, including Delhi, Mumbai and Bengaluru.
In Mumbai, petrol remained at ₹111.21 a litre, little changed from recent sessions in which the price has moved only narrowly between ₹111.18 and ₹111.21. The Mint’s city-wise table showed similarly flat pricing elsewhere, with Delhi at ₹102.12 a litre for petrol and ₹95.20 for diesel, Kolkata at ₹113.51 and ₹99.82, and Chennai at ₹107.77 and ₹99.55.
The pause in retail prices came as global oil markets firmed on renewed Middle East tensions. Bloomberg reported that Brent crude rose 1.3% to about $105.70 a barrel, while West Texas Intermediate climbed to $93.11 a barrel after Donald Trump rejected Iran’s latest proposal tied to reopening the Strait of Hormuz. TradingEconomics and other market reports said the move lifted concerns about disruptions to a vital shipping route for global energy supplies.
The diplomatic standoff has added to uncertainty in already volatile oil markets. The Los Angeles Times and The Washington Post reported that Iran had proposed reopening the waterway within seven days in exchange for U.S. concessions, but Trump dismissed the offer. Iranian Foreign Minister Abbas Araqchi, writing on social media, said: “Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met.” With talks still unresolved, traders are watching for any further escalation that could feed through to fuel costs in the days ahead.
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