Petrol and diesel prices were unchanged across major Indian cities on Tuesday, August 25, as international crude oil prices remained elevated amid geopolitical concerns. Brent crude was up around $92.16 a barrel, and US West Texas Intermediate (WTI) crude was at $85.02 a barrel.
International oil markets will be closely watching oil prices for the implications of US sanctions on Iran and the effect they could have on crude shipping through the Strait of Hormuz. A loss of shipments through the strategic waterway could add to pressure on international oil prices.
In India, the government has maintained that petrol and diesel supplies are sufficient, advising customers not to panic buy at the price of petroleum in view of the Middle East turbulence. While global crude prices fluctuate, domestic retail fuel rates are unchanged on August 25.
Petrol prices on August 25
Here are the petrol prices reported in major Indian cities:
City Petrol Price/Litre
- Delhi Rs 102.12
- Kolkata Rs 113.51
- Mumbai Rs 111.21
- Chennai Rs 108.01
- Hyderabad Rs 115.73
- Bengaluru Rs 110.89
Hyderabad had the highest petrol price of Rs 115.73 per litre, while Delhi had the lowest at Rs 102.12 per litre.
Diesel prices on 25 August
Diesel prices also remained unchanged across the major cities covered:
City Diesel Price/Litre
- Delhi Rs 95.20
- Kolkata Rs 99.82
- Mumbai Rs 97.83
- Chennai Rs 99.66
- Hyderabad Rs 103.82
- Bengaluru Rs 98.80
Hyderabad had the highest diesel price among the cities at Rs 103.82 per litre, while Delhi remained the lowest at Rs 95.20 per litre.
Why are Petrol and Diesel prices unchanged?
International crude oil prices are an important factor in India’s fuel-price dynamics, but domestic petrol and diesel rates are influenced by many other factors.
State-run oil marketing companies consider factors such as the rupee-dollar exchange rate, international crude prices, refining costs, taxes and dealer margins when determining retail fuel prices.
So a rise or fall in Brent or WTI crude does not necessarily mean an immediate corresponding change in petrol and diesel prices at Indian fuel stations.
However, the current geopolitical situation is important for the domestic market. U.S. sanctions on Iran and uncertainty about the Strait of Hormuz could affect global crude supply and transportation costs. If international oil prices continue to rise significantly, India’s fuel import bill and the rest of the country’s economy will be under pressure.
For a long time, crude oil will be a major market force
Brent crude was kept at around $92 a barrel, down more than 2 percent from the previous day. WTI crude was at $85 a barrel.
Investors are sizing up how Iran could respond to harsher economic pressure and if Middle East troubles will affect the energy flows. The Strait of Hormuz is especially important for world energy markets as disruption in the region can quickly cause a drop in oil prices.
In India, petrol and diesel rates stayed stable on 25 August despite these global developments for Indian consumers.
Petrol, diesel prices today: Key Takeaways
- Delhi petrol: Rs 102.12/litre.
- Mumbai petrol: Rs 111.21/litre.
- Bengaluru petrol: Rs 110.89/litre.
- Chennai petrol: Rs 108.01/litre.
- Kolkata petrol: Rs 113.51/litre.
- Hyderabad petrol: Rs 115.73/litre.
- Delhi diesel: Rs 95.20/litre.
- Mumbai diesel: Rs 97.83/litre.
- Bengaluru diesel: Rs 98.80/litre.
- Chennai diesel: Rs 99.66/litre.
- Kolkata diesel: Rs 99.82/litre.
- Hyderabad diesel: Rs 103.82/litre.
- Brent crude: Around $92.16/barrel.
- WTI crude: Around $85.02/barrel.
The price of fuel in cities differs because of state-level taxes and other local aspects.
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