Petrol And Diesel Prices Remain Unchanged Across Major Indian Cities
Fuel prices steady on June 4 amid global oil volatility.
Petrol and diesel prices across India remained largely stable on June 4, with only marginal changes of a few paise in select cities, even as fuel costs continue to hover near multi-month highs. The stability comes after a period of sharp increases, during which fuel prices were reportedly hiked four times in the last 20 days. The latest revision earlier in the week saw petrol rise by ₹2.6 per litre and diesel by ₹2.7 per litre, adding pressure on household and transport expenses nationwide.
Despite the slight pause in price hikes on June 4, overall fuel costs have climbed significantly since the beginning of heightened geopolitical tensions linked to the US-Iran conflict. Industry estimates suggest petrol and diesel prices have increased by around ₹7.5 to ₹8 per litre during this period. In Delhi, petrol is currently priced at ₹102.12 per litre, while diesel stands at ₹95.20 per litre, reflecting the uneven impact of global crude volatility on domestic retail rates.
Price variations remain stark across major Indian cities due to differences in state taxes and transportation costs. In Mumbai, petrol is priced at ₹112.21 per litre and diesel at ₹97.83 per litre. In Kolkata, petrol stands at ₹113.51 and diesel at ₹99.82 per litre. Chennai records petrol at ₹108.01 and diesel at ₹99.66 per litre, while Bengaluru reports ₹110.89 for petrol and ₹98.80 for diesel. Hyderabad continues to record some of the highest fuel rates among major metros, with petrol at ₹115.73 and diesel at ₹103.82 per litre.
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Market reports indicate that state-owned oil marketing companies are under significant financial strain due to global price fluctuations. Estimates suggest losses of ₹1,600–₹1,700 crore per day, totaling over ₹1 lakh crore in the past 10 weeks. Analysts attribute the pressure primarily to rising crude oil prices, which have surged amid ongoing geopolitical tensions in the Middle East, disrupting supply expectations and increasing uncertainty in global energy markets.
International crude oil benchmarks have shown signs of easing after recent volatility. Brent crude slipped toward $97 per barrel, while West Texas Intermediate hovered near $95, following a brief rally driven by supply concerns. A conditional ceasefire between Israel and Lebanon has helped calm markets slightly, though traders remain cautious as broader regional tensions, including those involving Iran, continue to influence sentiment. Energy analysts note that any escalation or de-escalation in the region could quickly shift price trajectories.
Fuel pricing in India remains influenced by multiple factors beyond crude oil costs, including the rupee–dollar exchange rate, central excise duties, and state-level VAT structures. While oil marketing companies such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum review prices daily under the dynamic pricing system, actual retail changes depend on market conditions and policy decisions. As a result, prices may remain unchanged for days even during periods of global volatility, as seen in the current trend.
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