Petrol and diesel prices in major Indian cities remain unchanged amid rising Brent crude prices and escalating tensions in the Middle East, highlighting ongoing market volatility and concerns over future inflationary pressures in India.
Petrol and diesel prices across major Indian cities held steady on Monday even as Brent crude hovered at about $88.50 a barrel, after rising roughly 6% last week. The latest figures show New Delhi at ₹102.12 a litre for petrol and ₹95.20 for diesel, while Mumbai stood at ₹111.21 and ₹97.83 respectively. In other large cities, Kolkata, Chennai, Bengaluru and Hyderabad also saw no change, underscoring how India’s state-run fuel retailers continue to shield consumers from day-to-day swings in global oil markets.
The broader oil market, however, remains sensitive to geopolitical risks. Reuters reported that AMP chief economist Shane Oliver expects crude to stay in a $70 to $100 range while tensions around Iran and the Strait of Hormuz persist, adding that prices could climb further if disruptions to Middle East supply continue and stockpiles begin to tighten. That route is one of the world’s most important energy chokepoints, carrying a significant share of global oil and liquefied natural gas trade.
The security backdrop has already prompted a greater US military presence in the region. According to the US Department of War, US Navy and Marine Corps personnel arrived aboard the USS Bataan and USS Carter Hall to support deterrence efforts near Hormuz, while US Central Command chief Gen Michael Erik Kurilla also made a naval transit through the strait and visited Gulf allies to reassure them. The US Naval Institute reported separately that a team of about 100 Marines and sailors had been prepared to provide armed security on commercial vessels in the area.
Oil prices had already been under pressure from weakening growth signals in China and concerns over higher US interest rates, according to Moneycontrol, but the latest increase reflects how quickly geopolitical developments can dominate trading. For India, that keeps the focus on whether elevated crude prices will feed through into retail fuel costs later, even though Monday’s pump rates remained unchanged in the country’s biggest urban markets.
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