Petrol, Diesel Price today: Check latest fuel rates
Fuel prices remain elevated after four hikes Live Events Petrol prices in major cities on June 9 City Petrol Price (₹/litre) New Delhi 102.12 Kolkata
Fuel prices remain elevated after four hikes Live Events Petrol prices in major cities on June 9 City Petrol Price (₹/litre) New Delhi 102.12 Kolkata 113.51 Mumbai 111.21 Chennai 107.87 Gurugram 102.62 Noida 101.96 Bengaluru 110.89 Bhubaneswar 108.97 Chandigarh 101.51 Hyderabad 115.69 Jaipur 112.66 Lucknow 101.89 Patna 114.24 Thiruvananthapuram 115.49 Diesel prices in major cities on June 9 City Diesel Price (₹/litre) New Delhi 95.20 Kolkata 99.82 Mumbai 97.83 Chennai 99.65 Gurugram 95.30 Noida 95.44 Bengaluru 98.80 Bhubaneswar 100.68 Chandigarh 89.47 Hyderabad 103.82 Jaipur 97.78 Lucknow 95.36 Patna 100.20 Thiruvananthapuram 104.40 Global oil prices steady after ceasefire signals West Asia conflict impacts India's fuel market Minister expects fuel prices to ease What determines petrol and diesel prices? 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 Fuel prices remained largely unchanged across major Indian cities on June 9, following four rounds of price hikes since mid-May.
Petrol and diesel rates have risen by around ₹7.5-₹8 per litre during this period as oil marketing companies passed on the impact of higher global crude oil prices triggered by the ongoing conflict in West Asia. While prices on Tuesday saw only minor changes of a few paise in some locations, fuel costs continue to remain at their highest levels since May 2022.The latest increase came on May 25, when oil marketing companies raised petrol prices by ₹2.61 per litre and diesel prices by ₹2.71 per litre. In Delhi, petrol is currently priced at ₹102.12 per litre and diesel at ₹95.20 per litre.Fuel prices have increased four times since May as global crude oil prices surged following disruptions to energy supplies caused by the conflict in West Asia. According to available data, cumulative increases since May 15 have pushed petrol and diesel prices up by nearly ₹7.5 per litre. The latest revisions have taken fuel prices to their highest levels in more than four years.State-owned oil marketing companies have been under pressure from rising crude costs.
Reports indicate that the firms are incurring losses of around ₹1,600-1,700 crore per day amid elevated global oil prices.Global oil prices stabilised after Israel and Iran signalled a willingness to halt further attacks, easing concerns about a wider regional conflict that could disrupt energy supplies.Brent crude traded near $94 per barrel, while US benchmark West Texas Intermediate remained above $91 per barrel.The market reaction followed statements indicating that both sides were prepared to maintain the ceasefire unless fresh attacks occurred, providing some relief after days of heightened tensions.The conflict in West Asia has affected energy supplies globally and has had a direct impact on India, which relies heavily on imported crude oil.A significant portion of India's crude oil, natural gas and LPG imports comes from Gulf countries. Disruptions caused by the conflict contributed to higher global crude prices and increased pressure on domestic fuel pricing.Globally, oil prices have surged around 40% to nearly $100 per barrel since the conflict affected access to the Strait of Hormuz, a key route through which roughly one-fifth of the world's oil and gas supplies are transported.Union Oil Minister Hardeep Singh Puri has indicated that fuel prices may moderate in the coming months as supply conditions improve."Oil prices cannot remain at their current height for "a very long time" and are expected to fall in the months ahead," according to the minister.He said additional supplies from Canada and the United States could help ease shortages and added that India has oil and gas reserves sufficient for 76-80 days.Petrol and diesel prices in India are influenced by several factors.Global crude oil prices remain the biggest driver because crude is the primary raw material used to produce fuels.
The BriefWire