Fuel Rates in 15 Indian Cities Remain Flat as Hormuz Tensions Rise
The latest price bulletin released on August 17 shows that petrol and diesel rates have not moved since the May 25 revision by the state‑run oil marketing companies. This stability comes despite a reduction in export taxes and growing uncertainty around the Strait of Hormuz, a choke‑point for global oil shipments.
Geopolitical nervousness is the dominant factor in today’s oil market. A slowdown in tanker traffic through the Hormuz waterway, coupled with stalled U.S.–Iran negotiations, pushed Brent crude close to USD 89 a barrel and WTI near USD 83.
Below is the current price list for fifteen major Indian cities, expressed in rupees per litre:
- Noida: Petrol 101.96 | Diesel 95.44 - Lucknow: Petrol 102.31 | Diesel 95.79 - New Delhi: Petrol 102.12 | Diesel 95.20 - Mumbai: Petrol 111.21 | Diesel 97.83 - Bengaluru: Petrol 111.68 | Diesel 99.56 - Kolkata: Petrol 113.51 | Diesel 99.82 - Chennai: Petrol 107.76 | Diesel 99.55 - Hyderabad: Petrol 115.69 | Diesel 103.82 - Pune: Petrol 111.78 | Diesel 98.44 - Ahmedabad: Petrol 101.81 | Diesel 97.92 - Jaipur: Petrol 113.19 | Diesel 98.25 - Chandigarh: Petrol 101.54 | Diesel 89.47 - Patna: Petrol 114.35 | Diesel 99.36 - Bhopal: Petrol 115.39 | Diesel 100.46 - Surat: Petrol 101.81 | Diesel 97.82
Industry insiders say that as long as crude oil prices stay elevated and the Hormuz corridor remains volatile, oil marketing companies will protect their margins, leaving retail prices unchanged. A tangible price drop is likely only if global crude prices retreat or diplomatic tensions ease.