Petrol-Diesel Price Today in India: Amid the ongoing war in the Middle East and the simultaneous closure of the Strait of Hormuz a concern has been raised on how the prices of petrol and diesel will move in India.
The government has, for now, assured that there is ample supply in place and Indians need not worry.
The prices of petrol and diesel stayed the same in major Indian cities on March 6, as per data from oil marketing companies (OMCs).
Check petrol and diesel prices in your city here
| City | Petrol Price (Rs/litre) | Diesel Price (Rs/litre) |
|---|---|---|
| New Delhi | Rs 94.77 | Rs 87.67 |
| Mumbai | Rs 103.50 | Rs 90.03 |
| Chennai | Rs 100.80 | Rs 92.39 |
| Kolkata | Rs 105.41 | Rs 92.02 |
| Bengaluru | Rs 102.92 | Rs 90.99 |
| Hyderabad | Rs 107.46 | Rs 95.70 |
| Ahmedabad | Rs 94.48 | Rs 90.16 |
| Jaipur | Rs 104.72 | Rs 90.21 |
| Lucknow | Rs 94.73 | Rs 87.81 |
| Patna | Rs 106.11 | Rs 91.77 |
| Chandigarh | Rs 94.30 | Rs 82.45 |
| Gurugram | Rs 95.44 | Rs 87.90 |
| Noida | Rs 94.77 | Rs 87.89 |
| Bhopal | Rs 106.17 | Rs 91.57 |
| Visakhapatnam | Rs 108.35 | Rs 96.22 |
Today’s price of Brent crude oil
After many days of rises, oil prices throughout the world went down a little bit on Friday. Brent oil futures were trading at about $84.46 per barrel, down 1.1%. Eventhough, crude prices fell on Friday, they are still on track for their biggest weekly gain since 2022, with Brent climbing 16.4% this week and WTI rising 19.2%.
Why are gas prices going up today?
The price of fuel in India is closely related to the price of crude oil on the world market. When oil prices go up a lot around the world, it costs countries like India extra to buy crude oil. India gets more than 85% of its oil from other countries. Fuel prices in India are affected by more than just the cost of crude oil. Exchange rates, transportation expenses, refining profits, and state taxes all play a role.
How is the war affecting the oil prices right now?
The most recent rise in crude oil prices is due to the growing unrest in the Middle East. The US, Israel, and Iran are at war, which has stopped oil shipments via the Strait of Hormuz. This is a very crucial shipping route that carries around 20% of the world’s daily oil supply.
Some refineries and liquefied natural gas facilities in the area have also had to close because of problems with the supply. Priyanka Sachdeva, a senior market analyst at Phillip Nova, told Reuters, “With every passing day, halted activities in Hormuz will have two major effects on oil: the inability to store 20 million barrels per day and the lack of flow to the world, which could drive global energy prices higher.”
Meanwhile, the US Treasury has given firms permission to buy Russian oil that is kept on tankers. This will help reduce supply pressures and provide Asian refiners more access to oil.