Petrol, Diesel Prices Today June 22: Fuel Rates Hold Steady Despite Brent Crude Climbing Above $82 Amid Hormuz Tensions

On June 22, petrol and diesel prices in India remained stable despite a surge in global crude oil. Brent crude exceeded $82 per barrel due to geopolitical tensions in the Middle East, raising supply disruption concerns. Indian fuel prices, influenced by crude rates, exchange rates, and taxes, were held steady.

Petrol and diesel prices remained unchanged across India on June 22, offering temporary relief to consumers even as global crude oil markets witnessed renewed volatility due to escalating geopolitical tensions in the Middle East. Oil marketing companies (OMCs) kept retail fuel rates steady across major cities despite Brent crude climbing above $82 per barrel following fresh concerns over potential disruptions to global oil supplies.

The latest surge in crude prices comes after renewed rhetoric surrounding the strategically important Strait of Hormuz, a critical global oil transit route. Market concerns over supply disruptions have pushed international oil benchmarks higher, increasing pressure on fuel-importing nations such as India.

Despite the global uncertainty, fuel prices in India have not been revised on June 22. In Delhi, petrol is being sold at Rs 102.12 per litre, while diesel is priced at Rs 95.20 per litre. Mumbai residents are paying Rs 111.21 per litre for petrol and Rs 97.83 per litre for diesel.

Petrol & Diesel Prices in Major Indian Cities — June 22

City Petrol (Rs /Litre) Diesel (Rs /Litre)

Delhi Rs 102.12 Rs 95.20

Mumbai Rs 111.21 Rs 97.83

Kolkata Rs 113.51 Rs 99.82

Chennai Rs 108.01 Rs 99.66

Hyderabad Rs 115.73 Rs 103.82

Bengaluru Rs 110.89 Rs 98.80

Fuel prices in India are influenced by multiple factors, including international crude oil prices, the rupee-dollar exchange rate, transportation costs, refinery margins, and taxes imposed by both the Centre and state governments. Variations in state-level VAT are among the key reasons fuel prices differ across cities.

Although fuel rates have remained stable for now, market watchers continue to monitor global developments closely. Union Petroleum Minister Hardeep Singh Puri recently indicated that domestic fuel prices could soften in the coming weeks if lower-cost crude oil purchased earlier reaches Indian refineries, potentially providing some relief to consumers.