Delhi News Info Desk: Although petrol and diesel prices in India remain unchanged for now, the sharp movement in international crude oil markets has put investors and consumers on alert.

Crude Oil Prices Climb on Supply Concerns

International benchmark Brent Crude and West Texas Intermediate (WTI) both recorded gains during early trading.

• Brent Crude briefly touched $82.30 per barrel before trading around $81.11 per barrel.
• WTI Crude rose to approximately $78.62 per barrel.
• The more actively traded August WTI contract climbed to $77.28 per barrel.

Market analysts attribute the rise in oil prices to three key factors:

1. Growing uncertainty surrounding the Strait of Hormuz
2. Slower shipping activity in the Gulf region
3. Challenges in ongoing US-Iran diplomatic negotiations

Why the Strait of Hormuz Matters

The Strait of Hormuz is one of the world's most critical oil transit routes, handling a significant share of global crude exports.

Recent shipping data indicated a decline in vessel traffic through the region, fueling concerns about possible supply disruptions. Any instability in this strategic waterway can have a direct impact on global energy prices, making it a closely watched area for oil traders and governments alike.

US-Iran Talks Remain in Focus

The future direction of crude oil prices largely depends on the outcome of ongoing discussions between Washington and Tehran.

While diplomatic engagement continues, uncertainty remains high. Energy experts believe that Iran may continue using the Strait of Hormuz as a strategic pressure point in negotiations, which could keep market sentiment fragile in the coming weeks.

As a result, investors are closely monitoring developments before making long-term bets on oil prices.

Oil Had Fallen More Than 8% Last Week

Interestingly, crude oil prices had dropped by more than 8% last week due to expectations of improving supply conditions.

At the time, markets were optimistic that:

• Gulf shipping routes would normalize.
• Sanctions-related restrictions on Iranian oil exports could ease.
• Additional oil supply from major producers would help stabilize prices.

However, renewed geopolitical tensions have quickly reversed that trend.

Will Petrol and Diesel Become More Expensive in India?

Despite the recent surge in crude oil prices, experts believe that an immediate increase in petrol and diesel prices in India is unlikely.

According to market observers:

• Crude oil is currently trading in the $80–82 per barrel range.
• Significant fuel price revisions are generally more likely if crude moves toward $95–100 per barrel and remains elevated.
• Indian oil marketing companies are currently monitoring international developments before making any pricing decisions.

However, if global crude prices continue to rise for an extended period, pressure on domestic fuel prices could increase.

Latest Petrol and Diesel Prices in Major Indian Cities

Fuel prices in India remain unchanged at present.

Delhi

• Petrol: ₹102.12 per litre
• Diesel: ₹95.20 per litre

Kolkata

• Petrol: ₹113.51 per litre
• Diesel: ₹99.82 per litre

Mumbai

• Petrol: ₹111.21 per litre
• Diesel: ₹97.83 per litre

Chennai

• Petrol: ₹107.77 per litre
• Diesel: ₹99.55 per litre