Geopolitical Tensions Lift Brent and WTI; Impact on Indian Fuel Costs

The latest round of U.S. strikes against Iranian targets has caused Brent crude to jump to about $74.22 a barrel and U.S. WTI to climb to $72.49. Market participants cite the risk of further conflict in the Middle East, especially around the Strait of Hormuz, as a key driver behind the price surge.

**Petrol rates across Indian metros** - Lucknow – ₹101.86/L - Noida – ₹101.96/L - New Delhi – ₹102.12/L - Mumbai – ₹111.21/L - Kolkata – ₹113.51/L - Chennai – ₹107.76/L - Bengaluru – ₹110.89/L - Hyderabad – ₹115.73/L - Ahmedabad – ₹102.58/L - Jaipur – ₹112.66/L - Pune – ₹111.85/L - Gurgaon – ₹102.97/L - Chandigarh – ₹101.51/L - Bhubaneswar – ₹108.97/L - Patna – ₹115.07/L

The Strait of Hormuz, a chokepoint for roughly one‑fifth of the world’s oil supplies, has seen recent attacks on commercial ships. Washington’s response included a strong condemnation and a series of targeted airstrikes, signaling that any further disruption could quickly translate into higher crude prices.

**Diesel rates across the same locations** - Lucknow – ₹95.36/L - Noida – ₹95.44/L - New Delhi – ₹95.20/L - Mumbai – ₹97.83/L - Kolkata – ₹99.82/L - Chennai – ₹99.55/L - Bengaluru – ₹99.56/L - Hyderabad – ₹105.03/L - Ahmedabad – ₹98.70/L - Jaipur – ₹97.78/L - Pune – ₹98.50/L - Gurgaon – ₹95.64/L - Chandigarh – ₹82.45/L - Bhubaneswar – ₹100.68/L - Patna (state average) – ₹100.26/L

During earlier phases of the U.S.–Iran standoff, crude hovered near $73 per barrel before spiking above $120 amid heightened alarms. The subsequent decline followed diplomatic easing, yet the current reprise suggests that if the market perceives a prolonged risk, Indian consumers may see a sustained upward trend in pump prices, adding pressure to inflation metrics.