1 hr ago
Fuel Prices Hold Steady as Oil Risks Rise Across Markets
On October 7, state-run fuel sellers in India did not change petrol or diesel prices.
Prices in many big cities have stayed mostly the same since June.
Nayara Energy, a private fuel seller, recently raised its prices.
Oil prices around the world went up as traders worried about a storm near US oil and gas facilities and attacks on ships.
These events could affect the supply of oil.
The article also reports that US Vice President JD Vance wants Iran to reduce its ability to enrich uranium.
He said that would help meet US demands in the countries’ conflict.
The article does not say that fuel prices will change next.
State-run oil retailers kept petrol and diesel prices unchanged on October 7 after their 6:00 a.m. revision.
Prices have largely held steady across major metros since June, while private retailer Nayara Energy recently raised petrol by ₹5 and diesel by ₹3 per litre.
Among listed cities, petrol ranged from ₹101.54 per litre in Chandigarh to ₹116.15 in Hyderabad; diesel ranged from ₹89.47 in Chandigarh to ₹104.40 in Thiruvananthapuram.
Oil prices rose amid concerns about a storm threatening US energy facilities and attacks on shipping near Saudi Arabia and in the Strait of Hormuz.
US Vice President JD Vance said Iran must make a meaningful reduction in its nuclear enrichment capacity to meet US demands.
- Who
- State-run oil retailers in India; Nayara Energy; US Vice President JD Vance.
- What
- State-run retailers kept petrol and diesel prices unchanged, while global oil prices rose and Vance set out a US demand concerning Iran’s nuclear enrichment.
- Where
- India, with fuel prices listed for major cities; oil-market risks cited in the Gulf of Mexico, Saudi Arabia and the Strait of Hormuz.
- When
- October 7; the article does not specify the year.
- Why
- State-run retailers maintained prices despite global supply concerns; the article does not give their specific reason.
Key facts
- State-run fuel price decision
- Petrol and diesel prices were unchanged after the 6:00 a.m. revision on October 7.
- Price trend
- Fuel rates across major metros had held largely steady since June.
- Nayara Energy increase
- Petrol rose by ₹5 per litre and diesel by ₹3 per litre on Saturday.
- Delhi prices
- Petrol ₹102.12 per litre; diesel ₹95.20 per litre.
- Mumbai prices
- Petrol ₹111.21 per litre; diesel ₹97.83 per litre.
- Oil benchmarks
- Brent rose 93 cents to $101.51 a barrel; US WTI rose 82 cents to $90.25, as of 0022 GMT.
- US demand on Iran
- JD Vance said Iran must make a meaningful reduction in its nuclear enrichment capacity.
Quotes
JD Vance
US vice president interviewed by Reuters about negotiations with Iran.
“If you don't want a nuclear weapon, then why do you need 60% enriched fuel? And if you want to show commitment to not building a nuclear weapon, don't build highly enriched fuel. That's a very basic threshold issue.”
livemint.com
“I think if they want to show a commitment to not building a nuclear weapon, they would do something meaningful on their enrichment capacity.”
livemint.com
Sources
Related news
Indian Fuel Rates Barely Move as Iran Tensions Lift Oil
Indian Fuel Rates Stay Steady as Crude Oil Rally Intensifies
Indian Fuel Rates Steady as Crude Prices Rise Again
Indian Fuel Prices Hold Steady as UPI Fee Looms
Fuel Prices Hold Steady as Saudi Pipeline Closure Lifts Crude
Fuel Prices Hold Steady as Global Oil Extends Losses
G7 to Release 100 Million Barrels as Diesel Prices Surge
Essar Plans $15 Billion Steel Complex in Iowa
Nayara Raises Petrol and Diesel Prices as Oil Costs Rise
Government Orders Fuel Retailers To Remove Petrol, Diesel Sales Caps
