Rising Crude Oil Prices: Impact on Fuel Rates Across Major Cities
Surge in Crude Oil Prices
The international market is witnessing a notable increase in crude oil prices once again. On Thursday, October 8, 2026, Brent crude surpassed the $100 per barrel mark, reaching nearly $102 due to rising supply concerns and escalating tensions in the Middle East.
Current Fuel Prices in Major Cities
Despite the surge in crude oil prices, there has not been a significant impact on retail fuel prices in most cities across the country. As of October 8, there were no changes in petrol and diesel rates in major cities like Delhi, Mumbai, Kolkata, and Chennai, although some areas experienced slight increases or decreases.
According to data available on October 8, petrol prices are as follows: ₹102.12 per liter in Delhi, ₹111.21 in Mumbai, ₹113.51 in Kolkata, and ₹107.76 in Chennai. In Bengaluru, petrol is priced at ₹111.68, while Hyderabad sees a rate of ₹116.15 per liter.
Diesel Prices Overview
For diesel, the prices are ₹95.20 per liter in Delhi, ₹97.83 in Mumbai, ₹99.82 in Kolkata, and ₹99.55 in Chennai. In Bengaluru, diesel costs ₹99.56, while in Hyderabad, it is priced at ₹104.23 per liter.
Fuel Rates in Jaipur
In Jaipur, Rajasthan, petrol is currently priced at ₹112.69 per liter as of October 8, showing no change from the previous day. However, there are discrepancies in diesel prices reported by different sources, with some indicating ₹99.29 per liter and others reporting ₹97.78 per liter. It is advisable to check the local petrol pump for the most accurate pricing.
Reasons Behind Rising Oil Prices
The primary reason for the increase in oil prices in the international market is the concern over supply from the Middle East. Rising attacks on ships in the Gulf region and the Strait of Hormuz have heightened market anxiety regarding global oil supply. Additionally, reports of weather-related disruptions to oil production in the United States have also contributed to the price support.
India relies heavily on crude oil imports to meet its energy needs. Therefore, prolonged high prices in the international market could exert pressure on the country's economy and fuel prices, although current petrol and diesel rates in major cities remain relatively stable.
Daily Updates on Fuel Prices
In India, petrol and diesel prices are updated daily. Oil companies release new rates at 6 AM. The variation in prices across cities is primarily due to local taxes, VAT, and other costs, which can lead to different rates for petrol and diesel on the same day.
Note: Fuel prices may also vary locally throughout the day. It is recommended to check the latest prices displayed at your local petrol pump before refueling your vehicle.