Petrol, Diesel Rates Today August 18: Check Fuel Prices In Delhi, Mumbai, Bengaluru, Chennai And More

Prices of petrol and diesel in major cities of India were mostly unchanged on August 18, with most of the rates being stable or changing marginally. The latest city-wise figures show petrol at ₹102.12 per litre in Delhi, ₹111.21 in Mumbai and ₹111.68 in Bengaluru.

Petrol And Diesel Prices On August 18

Source: Goodreturns

Among the cities listed, Thiruvananthapuram recorded the highest petrol and diesel rates at ₹115.49 and ₹104.40 per litre, respectively. Delhi continued to have comparatively lower rates, with petrol at ₹102.12 and diesel at ₹95.20 per litre. The rates are based on the city-wise figures reported for August 18.

Crude Oil Prices Rise

International crude prices moved higher on Monday as uncertainty surrounding the U.S.-Iran situation increased concerns about energy supplies. Brent crude settled at $90.87 a barrel, while U.S. West Texas Intermediate crude ended at $84.50, according to Reuters. 

The rise followed the expiry of a 60-day understanding between Washington and Tehran without a broader agreement. U.S. President Donald Trump has ruled out extending the arrangement, while Iran has warned of further escalation if diplomatic efforts fail. 

The oil market is worried about the Strait of Hormuz, as any interruption to shipping through the strait could impact the flow of crude and other energy supplies. Tensions there have caused a slump in vessel traffic through the strait, Reuters reported.

Why Petrol and Diesel Prices Vary by City

Retail fuel prices vary in different states in India due to different taxes and other local factors. The price of petrol and diesel is also linked to the price of crude oil, the cost of refining, freight, distribution charges and the exchange rate between the rupee and the U.S. dollar.

Retail fuel prices are fixed by state-owned oil marketing companies and hence, a change in global crude oil prices doesn’t necessarily translate into an immediate or on-par change in prices at Indian fuel stations. This has helped keep domestic pump prices fairly steady despite recent volatility in the global crude market.

For consumers tracking the crude price, Brent and WTI remain important global benchmarks. However, the final petrol and diesel price paid at the pump depends on several domestic cost and tax components as well.

The August 18 rates therefore show a largely stable domestic fuel market even as international oil prices remain sensitive to developments involving Iran, the U.S. and the Strait of Hormuz.