Petrol, diesel prices hiked again on June 8?
Crude oil rallies after fresh Middle East flare-up Live Events Why fuel prices in India have not changed Petrol and diesel prices in major cities
Crude oil rallies after fresh Middle East flare-up Live Events Why fuel prices in India have not changed Petrol and diesel prices in major cities today India launches E85 petrol at lower price What consumers should watch as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Global crude oil prices have jumped sharply amid fresh geopolitical tensions in the Middle East, raising concerns about energy supplies. However, Indian consumers have not seen any immediate impact at fuel stations, with petrol and diesel prices remaining unchanged across major cities on June 8.The stability in domestic fuel rates comes even as Brent crude climbed above $96 per barrel following renewed hostilities involving Iran and Israel, which rattled global oil markets.International oil prices moved higher after Iran reportedly launched missiles at Israel, threatening a fragile ceasefire and reigniting fears of supply disruptions in the region.
Investors are particularly concerned about the Strait of Hormuz, one of the world's most critical oil transit routes. Israel's military said it has launched retaliatory strikes on military targets in western and central Iran.Brent crude rose above $96 per barrel during Asian trading, while US crude also registered strong gains. Analysts say any prolonged disruption in the region could keep oil prices elevated in the near term.Despite the sharp rise in global crude prices, state-run oil marketing companies have not revised retail petrol and diesel rates. Fuel prices continue to remain steady in major Indian cities on June 8.Domestic fuel pricing depends on several factors, including international crude rates, refining costs, taxes, transportation expenses and currency movements.
As a result, changes in global oil prices do not always translate into immediate revisions at the pump.DelhiPetrol: ₹94.72 per litreDiesel: ₹87.62 per litreMumbaiPetrol: ₹104.21 per litreDiesel: ₹92.15 per litreKolkataPetrol: ₹103.94 per litreDiesel: ₹90.76 per litreChennaiPetrol: ₹100.85 per litreDiesel: ₹92.44 per litreBengaluruPetrol: ₹102.92 per litreDiesel: ₹89.02 per litreHyderabadPetrol: ₹107.46 per litreDiesel: ₹95.70 per litreFuel rates across these cities remained unchanged despite volatility in the global energy market.The government recently introduced E85 petrol, a fuel blend containing 85% ethanol. The new fuel is expected to be sold at around ₹20 per litre cheaper than E20 petrol, as part of India's push towards cleaner and more affordable transportation fuels.The rollout is also expected to encourage the adoption of fle fuel vehicles and reduce dependence on conventional petroleum products.For now, Indian motorists have been insulated from the latest jump in crude oil prices.
The BriefWire