Amid rising tensions in West Asia, petrol and diesel prices across India remained unchanged on Saturday, March 14, despite global crude oil markets experiencing sharp fluctuations.Even with instability in the global energy market, the government has suggested that fuel prices are expected to stay stable for the time being. Oil marketing companies are believed to be absorbing some of the variations in international crude prices to avoid sudden price increases for consumers.
Oil marketing companies revise retail fuel prices daily at 6 am, adjusting them based on international crude oil trends and currency exchange rates. This system is designed to maintain transparency and keep consumers updated on the latest fuel price changes.
Petrol and diesel rates in major citiesDespite volatility in global oil markets, fuel prices in major Indian cities remained unchanged on March 14. As of Saturday, March 14, petrol and diesel prices in major Indian cities are as follows:New Delhi: Petrol ₹94.77/litre, Diesel ₹87.67/litre – No change recorded in diesel/petrol’s price compared to yesterday.Mumbai: Petrol ₹103.54/litre, Diesel ₹90.03/litre – No change recorded in petrol/diesel’s price compared to yesterday.Kolkata: Petrol ₹105.45/litre, Diesel ₹92.02/litre- Today’s petrol price in Kolkata is ₹105.45 per litre, which is slightly higher than yesterday’s rate of ₹105.41.
Meanwhile, no change was recorded in diesel’s price compared to yesterday.Chennai: Petrol ₹100.84/litre, Diesel ₹92.39/litre – Both fuels are showing a minor downward trend compared to yesterday’s rates of ₹101.06 (petrol) and ₹92.61 (diesel), respectively.Bengaluru: Petrol ₹102.96/litre, Diesel ₹90.99 /litre – The price of petrol has risen slightly to ₹102.96 per litre from yesterday’s ₹102.92, while diesel prices have remained completely stable.Global oil prices rise amid West Asia conflictInternational crude oil prices have been highly volatile as tensions escalate in West Asia involving Iran, Israel and the United States. The situation has raised fears about potential disruptions to oil shipments through the Strait of Hormuz, a crucial global energy route that carries nearly 20% of the world’s oil supply.Earlier this week, Brent crude prices briefly crossed $115 per barrel before easing after indications of possible de-escalation. However, prices climbed again to around $113 per barrel following reports that the Strait of Hormuz had been closed, sparking concerns about a potential global energy shock and rising inflation in many economies. The current price of Brent Oil futures is 103.86.Checking fuel prices through SMSConsumers can also find the latest petrol and diesel prices in their city using SMS services provided by oil marketing companies. These SMS services allow users to quickly check updated fuel prices without visiting a petrol pump, making it easier to stay informed about daily revisions.Indian Oil customers: Send the city code followed by RSP to 9224992249
BPCL customers: Send RSP to 9223112222
HPCL customers: Send HP Price to 9222201122India-bound oil tanker crosses Strait of HormuzAs tensions in West Asia grow, a crude oil ship from Saudi Arabia docked at Mumbai Port after negotiating the hazardous Strait of Hormuz. The Liberian-flagged Shenlong was the first vessel intended for India to safely navigate the route and arrive since maritime travel was delayed by the conflict between the United States, Israel, and Iran. Meanwhile, an LPG tanker sailing to India has also crossed the Strait of Hormuz.
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