5 hrs ago
Indian Fuel Prices Hold Steady Despite Rising Crude Oil
Fuel prices in several Indian cities stayed the same on September 28.
Government-owned oil companies did not raise or lower the prices.
In New Delhi, petrol cost ₹102.12 per litre and diesel cost ₹95.20.
In Mumbai, petrol cost ₹111.21 and diesel cost ₹97.83.
In Bengaluru, petrol cost ₹111.68 and diesel cost ₹99.56.
At the same time, the price of crude oil increased around the world.
This happened after Donald Trump rejected Iran’s proposal about reopening the Strait of Hormuz.
Iran said the waterway could reopen if its conditions were met.
Trump said talks between the United States and Iran could continue.
State-run oil marketing companies kept petrol and diesel prices unchanged on September 28 after the 6:00 AM revision.
Petrol cost ₹102.12 per litre in New Delhi, ₹111.21 in Mumbai and ₹111.68 in Bengaluru.
Diesel was priced at ₹95.20 per litre in New Delhi, ₹97.83 in Mumbai and ₹99.56 in Bengaluru.
Brent crude rose 1.3% to about $105.70 a barrel, while West Texas Intermediate reached $93.11.
Oil prices increased after Donald Trump rejected Iran’s proposal tied to reopening the Strait of Hormuz.
- Who
- Indian state-run oil marketing companies, Donald Trump and Iranian Foreign Minister Abbas Araqchi.
- What
- Indian petrol and diesel prices remained unchanged while global crude oil prices rose.
- Where
- Across India, including New Delhi, Mumbai and Bengaluru; the related diplomatic dispute concerns the Strait of Hormuz.
- When
- Monday, September 28, following the 6:00 AM fuel-price revision.
- Why
- Oil marketing companies kept retail rates unchanged despite higher crude prices; crude rose after Trump rejected Iran’s proposal concerning the Strait of Hormuz.
Iran’s Position
Donald Trump’s Position
Reopening the Strait of Hormuz
Iran’s Position
Iran said it would reopen the Strait of Hormuz within seven days if its stated conditions were met and maintained that only a negotiated solution could resolve the deadlock.
Donald Trump’s Position
Donald Trump rejected Iran’s proposal, saying Iran was seeking an immediate agreement because it was losing badly.
Diplomatic talks
Iran’s Position
Abbas Araqchi said Iranian officials were waiting for mediators to communicate the United States’ definitive position before deciding how to proceed.
Donald Trump’s Position
Trump said he expected United States negotiators to hold more talks with Iran during the week, leaving open the possibility of diplomacy.
Key facts
- New Delhi petrol
- ₹102.12 per litre
- New Delhi diesel
- ₹95.20 per litre
- Mumbai petrol
- ₹111.21 per litre
- Mumbai diesel
- ₹97.83 per litre
- Bengaluru petrol
- ₹111.68 per litre
- Bengaluru diesel
- ₹99.56 per litre
- Brent crude
- About $105.70 per barrel, up 1.3%
- West Texas Intermediate
- $93.11 per barrel, up $0.70 or 0.76%
Quotes
Abbas Araqchi
Iranian foreign minister
“Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met.”
livemint.com
“We are waiting for the mediators to convey the definitive views to us, and we will make a decision based on them.”
livemint.com
Sources
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