Petrol and diesel prices across major Indian cities have held steady since May 25, even as global crude oil benchmarks rise on improved Iran-Oman negotiations, reflecting ongoing efforts to shield consumers from market volatility.
Petrol and diesel prices across India’s major cities were unchanged on August 10, even as crude oil markets firmed on renewed hopes of progress in Iran-Oman talks over shipping in the Strait of Hormuz. State-run fuel retailers kept pump rates steady in cities including New Delhi, Mumbai, Bengaluru and Patna, extending a pause that has now lasted since the last major revision on May 25.
In New Delhi, petrol was priced at ₹102.12 a litre and diesel at ₹95.20, while Mumbai saw petrol at ₹111.21 and diesel at ₹97.83. Rates in Bengaluru stood at ₹111.68 for petrol and ₹99.56 for diesel, and in Patna at ₹114.55 and ₹100.49, respectively. The stable prices suggest that oil marketing companies are still absorbing some of the pressure from swings in global crude rather than passing them straight through to consumers.
Global oil benchmarks rose after a steep decline last week, with Brent crude up 1.09% to about $84.46 a barrel in early trading and US West Texas Intermediate at roughly $78.79. Bloomberg quoted KCM Trade chief market analyst Tim Waterer as saying traders were waiting for concrete evidence of progress before unwinding the geopolitical risk premium.
The latest movement comes against a broader backdrop of volatile oil markets shaped by conflict, sanctions and supply changes. The Financial Times Portfolio analysis on June 18 said WTI had fallen sharply from its 2022 peak, while US Energy Information Administration projections published in August 2025 pointed to further price weakness as production rises. In India, government sources and policy discussions this year have also indicated a desire to shield consumers from sudden fuel shocks, including through tax relief and targeted support.
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