Petrol Diesel Price Today: Following the US-Iran deal, Brent crude prices have also fallen sharply. This has virtually eliminated most of the war-induced premiums. Despite this, petrol and diesel prices remained unchanged on June 19th.
Add businessleague.in as a Preferred Source
Petrol Diesel Price Today: After the deal between America and Iran, the prices of Brent crude have also fallen drastically. Due to which most of the prices (war premium) that had increased due to the war have almost ended. But despite this, there has been no change in the prices of petrol and diesel on Thursday, June 19. Let us tell you that after the start of the America-Iran war, the prices of petrol and diesel have been increased four times so far. Last month, the prices of both the fuels were increased by Rs 2.60 and Rs 2.70 per liter respectively. Overall, petrol and diesel have become costlier by about Rs 7.5 to 8 per liter since the start of the war.
According to the latest data released by the Ministry of Petroleum and Natural Gas on Monday, under-recoveries by oil manufacturing companies (OMCs) have also decreased significantly. Under-recoveries on petrol, which were ₹24 per liter on April 1st, have now fallen by 83% to ₹3 per liter. Under-recoveries on diesel have also decreased by 75%, from ₹105 per liter to ₹27 per liter.
However, despite this relief, there was no change in the prices of petrol and diesel in Delhi on June 19. Petrol is being sold at Rs 102.12 per liter and diesel at Rs 95.20 per liter in the capital.
Check out petrol and diesel prices in your city on June 19:
| City | Petrol (₹/litre) | Diesel (₹/litre) |
|---|---|---|
| Delhi | ₹102.12 | ₹95.20 |
| Kolkata | ₹113.51 | ₹99.82 |
| Mumbai | ₹111.18 | ₹97.83 |
| Chennai | ₹107.77 | ₹99.55 |
| Gurugram | ₹103.17 | ₹95.83 |
| Noida | ₹102.12 | ₹95.56 |
| Bengaluru | ₹110.93 | ₹98.80 |
| Bhubaneswar | ₹108.81 | ₹100.52 |
| Chandigarh | ₹101.54 | ₹89.47 |
| Hyderabad | ₹115.73 | ₹103.82 |
| Jaipur | ₹112.66 | ₹97.78 |
| Lucknow | ₹101.89 | ₹95.36 |
| Patna | ₹113.46 | ₹99.47 |
| Thiruvananthapuram | ₹115.49 | ₹104.40 |
Global Crude Oil Prices
International crude oil prices have fallen sharply following signs of easing tensions between the US and Iran and a gradual return of shipping traffic through the Strait of Hormuz. Brent crude fell to near $79 per barrel on Friday, marking a decline of more than 9% for the week, while West Texas Intermediate crude was also trading around $75.
The decline comes after an interim peace deal between Washington and Tehran cleared the way for the resumption of shipping activity through the strategically important waterway.
Meanwhile, the resumption of shipping activity has significantly reduced the “risk premium” traders had added to oil prices during the conflict. As a result, crude prices have now lost almost all of their gains since the fighting began in February.
How are petrol and diesel prices decided?
Fuel prices in India depend on several factors, the most important of which is the global price of crude oil, as it is the main raw material for making petrol and diesel.
The exchange rate between the rupee and the dollar also impacts fuel prices, as India imports most of its crude oil needs.
Additionally, central excise duty and state value-added tax (VAT) also significantly impact the final retail price of petrol and diesel, which is why fuel prices vary across cities
Add businessleague.in as a Preferred Source
