Petrol and diesel prices remained unchanged across major Indian cities on October 14, even as international crude oil prices rose amid renewed concerns about possible supply disruptions in the Middle East. Brent crude climbed above $106 per barrel, while US West Texas Intermediate (WTI) crude reached $94.63 per barrel following reports of fresh attacks on Saudi targets by Yemen’s Houthi rebels.
For Indian motorists, prices announced by state-run oil marketing companies, including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, remained steady. However, private fuel retailers Jio-bp and Nayara Energy have increased prices in recent days, reflecting pressure from elevated global crude and refined fuel costs.
India imports around 90% of its crude oil requirements, making domestic fuel costs sensitive to international oil prices and movements in the rupee-dollar exchange rate.
Petrol and Diesel Prices in Major Cities
Here are the reported petrol and diesel prices across six major Indian cities.
| City | Petrol price (₹/litre) | Diesel price (₹/litre) |
|---|---|---|
| Mumbai | ₹111.21 | ₹97.83 |
| Delhi | ₹102.12 | ₹95.20 |
| Kolkata | ₹113.51 | ₹99.82 |
| Chennai | ₹107.76 | ₹99.55 |
| Bengaluru | ₹111.68 | ₹99.56 |
| Hyderabad | ₹116.15 | ₹104.23 |
Fuel prices vary between cities because of differences in state taxes and other local charges. Consumers should check the latest rates applicable to their locations before refuelling.
Why Are Global Crude Oil Prices Rising?
International oil prices moved higher following reports of fresh missile and drone attacks by Yemen’s Houthi rebels on Saudi targets. The reported targets included a Saudi Aramco administrative building in Dhahran, raising concerns about the safety of oil infrastructure and important supply routes.
The possibility of increased Russian diesel exports could help ease some supply constraints. However, continuing geopolitical uncertainty is keeping energy markets volatile.
For India, a prolonged rise in crude oil prices could increase the country’s import bill and put additional pressure on fuel retailers. The impact on consumers will depend on international prices, currency movements and domestic pricing decisions.
Oil Companies Face Pressure Despite Stable Retail Rates
Although petrol and diesel prices have remained largely unchanged at state-run fuel stations, oil marketing companies continue to face pressure on their marketing margins.
According to estimates from ICRA, state-run oil marketing companies were facing marketing margins of minus ₹8 per litre on petrol and minus ₹9 per litre on diesel in September. These negative margins translated into combined daily losses of approximately ₹530 crore.
The situation highlights the challenge for fuel retailers when international procurement costs remain high while domestic retail prices do not change at the same pace.
Private retailers Jio-bp and Nayara Energy have raised prices in recent days, underlining the pressure that elevated crude oil and refined fuel costs can place on retail operations.
What Rising Crude Oil Prices Mean for Consumers
Despite Brent crude reaching $106.4 per barrel, petrol and diesel prices in the listed cities have remained relatively stable over the past week.
The rupee-dollar exchange rate remains an important factor because India purchases much of its crude oil from overseas markets. If the rupee weakens against the US dollar, importing oil becomes more expensive, potentially adding pressure on domestic fuel prices.
For daily commuters, unchanged rates mean there has been no immediate major increase at the pump in the reported markets. However, international oil prices remain a factor to watch, particularly if elevated levels continue for an extended period.
Consumers should monitor local fuel prices, as rates can differ even between cities within the same state because of variations in taxes and other charges.
Disclaimer: This article is intended for informational purposes only and is based on the fuel prices and market information provided. Petrol and diesel rates may change and vary by location. Please verify current prices with official oil marketing company sources or local fuel stations before making decisions based on this information.