Petrol Diesel Price Today: Fuel Rates Unchanged, Check Latest Prices In Delhi, Mumbai And Other Cities

New Delhi: There was no change in the prices of petrol and diesel in major cities of the country on Tuesday. Government oil companies have kept fuel prices stable as before in big cities including Delhi, Mumbai, Gurugram and Chandigarh. Despite fluctuations in crude oil prices in the international market, there has been no new cut or increase in vehicle fuel rates domestically.

Oil companies update the prices of petrol and diesel every day at 6 am. However, prices have remained stable in major metros for a long time. Current rates are in effect since the last major price review.

How much are petrol and diesel in these cities including Delhi and Mumbai?

Why did the prices of crude oil rise?

There has been a rise in the prices of crude oil in the international market. Pressure on oil prices has increased amid increasing uncertainty over the agreement between the US and Iran and weakening prospects of reopening the Strait of Hormuz.

On Tuesday, Brent crude was trading at around 87.81 dollars per barrel. Whereas American West Texas Intermediate (WTI) crude remained at around 82.20 dollars per barrel. Brent crude has risen nearly 10 percent in the last four trading sessions.

How much impact will the Strait of Hormuz have on oil supply?

Tension in the Strait of Hormuz remains a major concern for the global oil market. According to analysts, the export of crude oil and refined petroleum products through this route has decreased in recent times.

According to Barclays data, net exports of crude oil and refined products through the Strait of Hormuz averaged about 3 million barrels per day in the week ending August 7, which is much lower than 4.4 million barrels per day in the previous week.

Why did Trump's new demands increase oil market concerns?

Uncertainty has increased in the market after US President Donald Trump made new demands regarding a possible peace agreement with Iran. Trump has demanded from Iran to provide compensation for those killed in wars, attacks and demonstrations.

Amid these developments, oil prices rose by more than 5 percent on Monday and crude reached its highest level since July 31.

What is the new update regarding Saudi refinery?

Amidst the tense situation, Saudi Aramco has extended the restart date of its 4 lakh barrel per day capacity Jazan refinery. The refinery is now expected to restart on August 30. Houthi rebels claimed two attacks on the plant on Sunday.

What did the experts say about petrol mixed with ethanol?

Meanwhile, experts have also expressed concern about ethanol-mixed petrol. A group of experts has raised questions on the possible impacts of the government's ethanol blending policy.

They say that ethanol blended fuel can have an impact on land use, agriculture, food security, groundwater levels and household income. Experts have suggested that prices should also be considered in the interest of consumers considering the potential reduction in fuel efficiency and additional expenses associated with vehicle maintenance.