Prices of Petrol, Diesel Remain Unchanged On June 11; Here Are Latest Prices In Major Cities

The prices of petrol and diesel remained static in major cities in India on June 11 after the last revision made by oil marketing companies on May 25. This increase took the prices of petrol and diesel to their highest point in more than three years.

The latest fuel price revision came after four successive increases during May. Since May 15, petrol and diesel prices have risen by nearly ₹7.5 per litre cumulatively. In Delhi, petrol currently costs ₹102.12 per litre, while diesel is priced at ₹95.20 per litre.

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Petrol And Diesel Prices In Major Cities

Impact Of West Asia Conflict

Fuel prices continued to be under strain due to disturbances in the world’s energy markets that resulted from the war currently going on between the United States and Iran. It should be remembered that a considerable amount of the world’s oil flows through the Strait of Hormuz.

India relies heavily on energy imports from Gulf nations. The disruption has raised concerns over crude oil availability and transportation costs, prompting OMCs to gradually pass on higher input costs to consumers.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri said sufficient fuel stocks are available in the country and indicated that prices could moderate in the coming months. He also noted that additional supplies from Canada and the U.S. could help offset some supply constraints.

Fuel Prices Up Sharply Since May

The May 25 revision increased petrol prices by ₹2.61 per litre and diesel prices by ₹2.71 per litre. Including earlier revisions during the month, petrol prices have risen about 7.8% since mid-May, while diesel prices have increased around 8.6%.

The increases marked a shift after a prolonged period of price stability. Retail fuel rates had remained largely unchanged for more than two years, except for a ₹2 per litre reduction announced in March 2024.

Crude Oil Continues To Climb

Global crude oil prices moved higher again after fresh military action in Iran. Brent crude traded near $95.20 per barrel, while U.S. West Texas Intermediate crude rose to around $92.34 per barrel, as reports pointed to renewed concerns over supply flows through the Strait of Hormuz.

Changes in international crude oil prices continue to be an important determinant of local fuel prices, thus making global geopolitics an important subject to watch out for the coming weeks in India.