Petrol And Diesel Prices Today: Fuel Rates Unchanged Across Major Cities As Brent Crude Price Rises

Petrol and diesel prices remained steady across major Indian cities on Friday, July 31, with state-owned oil marketing companies leaving retail rates unchanged. The current prices continue to reflect the revision announced on May 25, even as the global crude price moved higher amid uncertainty surrounding shipping through the Strait of Hormuz.

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Petrol And Diesel Prices In Major Cities

Fuel prices continued to vary across states because of local taxes, freight charges and dealer commissions. The latest retail prices are as follows:

Source: GoodReturns

Brent Crude Price Edges Higher

The global crude price remained firm on Friday, with Brent crude trading at around $87.14 per barrel, according to Bloomberg. Oil prices found support as concerns over supply disruptions persisted following tensions in the Middle East, although shipping activity through the Strait of Hormuz has shown signs of improvement in recent days.

Centre Clarifies Position On E20 Fuel

The Ministry of Petroleum and Natural Gas on Thursday said there is no verified evidence of widespread engine damage linked to E20 petrol. The ministry stated that its assessment is based on long-term testing, manufacturer service records, field monitoring and consultations with stakeholders across the automotive and fuel sectors.

According to the ministry, more than 20 crore two-wheelers and over 3 crore petrol cars have been operating on ethanol-blended fuel without verified systemic failures. It added that E15-plus petrol has been in use for more than three and a half years, while E19-E20 fuel has been available for over two and a half years.

The ministry also said that any reduction in fuel economy for older vehicles designed for E10 petrol is generally limited to 3% to 5%. It noted that E20 offers a higher octane rating and cleaner combustion, while factors such as driving conditions, tyre pressure and vehicle maintenance have a greater influence on mileage and engine performance.

Oil Market Remains Focused On Middle East Developments

The crude price continues to react to developments in the Middle East, with investors monitoring the situation around the Strait of Hormuz, one of the world’s busiest oil transit routes. According to Bloomberg, Brent crude remained supported as supply concerns persisted despite some improvement in shipping movements through the corridor.

While international oil prices have strengthened in recent weeks, retail petrol and diesel prices in India have remained unchanged. Domestic fuel prices continue to be determined by state-owned oil marketing companies after considering international crude prices, exchange rate movements and other pricing factors.