Petrol and diesel prices remained unchanged across major Indian cities on Friday, October 23, with oil marketing companies announcing no fresh revisions despite a sharp rally in global crude oil prices amid escalating tensions in the Middle East.
Petrol and diesel prices remained unchanged across major Indian cities on Friday, October 23, with oil marketing companies announcing no fresh revisions despite a sharp rally in global crude oil prices amid escalating tensions in the Middle East. Domestic fuel prices continue to vary from one city to another due to differences in Value Added Tax (VAT), freight charges and other local levies.
While international oil markets face mounting uncertainty over potential supply disruptions, retail petrol and diesel rates in India have remained steady.
Petrol, Diesel Prices Today in Major Cities
| CITY | PETROL (Rs/per litre) | DIESEL (Rs/per litre) |
| NEW DELHI | Rs 102.12 | Rs 95.20 |
| MUMBAI | Rs 111.21 | Rs 97.83 |
| CHENNAI | Rs 107.76 | Rs 99.55 |
| KOLKATA | Rs 113.51 | Rs 99.82 |
| HYDERABAD | Rs 116.15 | Rs 104.23 |
| BENGALURU | Rs 111.68 | Rs 99.56 |
New Delhi continues to record comparatively lower fuel prices than several other major metros. Petrol remains the costliest in Hyderabad among the six cities listed.
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Crude Oil Rally Intensifies Amid Middle East Conflict
While Indian consumers have seen no immediate change in pump prices, global oil markets are witnessing renewed turbulence. Brent crude is on course for its third consecutive weekly gain as intensifying attacks on Saudi Arabian infrastructure heighten fears of wider supply disruptions across the Middle East.
The global benchmark was trading near $113 a barrel, up approximately 3 per cent for the week, while West Texas Intermediate (WTI) crude remained above $99 a barrel.
The latest rally follows claims by Iran-backed Houthi militants that they carried out attacks on Saudi Arabia's Red Sea port of Yanbu. The escalation comes alongside deadly strikes on an oil field and an airport in the kingdom, raising fresh concerns over the security of critical energy infrastructure.
The developments have also intensified concerns surrounding the Strait of Hormuz, a crucial global shipping corridor through which significant volumes of crude oil pass. Any disruption to the strategic waterway could trigger further volatility in international energy markets, particularly as crude exports had recently recovered to near pre-war levels.
Brent Crude Surges Over 85% Amid US-Iran War
Global oil markets have experienced extraordinary volatility this year, with Brent crude prices surging more than 85 per cent amid the ongoing US-Iran war, which is approaching its ninth month. Refined petroleum products, particularly diesel, have witnessed an even sharper price rally.
The geopolitical situation remains tense, with fresh military threats adding to uncertainty over the outlook for global energy supplies.
Speaking to reporters at the White House on Thursday, US President Donald Trump stated that the US has “knocked” out Iran and threatened to go “a little bit further,” although he did not elaborate on the nature of any potential further action.
Meanwhile, The New York Times reported this week that the US and Israel have drawn up plans for renewed military strikes against Iran following the American midterm elections early next month.
With tensions continuing to threaten key oil-producing infrastructure and shipping routes, global crude prices remain vulnerable to further swings. For now, however, petrol and diesel prices across the major Indian cities listed above have remained unchanged.
