Fuel Prices Unchanged On June 3 Across Major Indian Cities

Petrol and diesel prices across India remained largely stable on June 3, with only marginal changes recorded in select locations, even as global crude oil volatility continues to keep energy markets on edge. The stability comes after a recent spell of frequent price hikes, raising concerns among consumers over sustained pressure on fuel expenses. Despite the pause, analysts warn that further increases cannot be ruled out if international oil trends persist.

In the past 20 days, fuel prices in India have seen multiple upward revisions, with petrol and diesel rates increasing on four separate occasions. The most recent hike reportedly added ₹2.6 per litre to petrol and ₹2.7 per litre to diesel. Overall, fuel prices have surged by nearly ₹7.5 to ₹8 per litre since early May, driven largely by global crude oil fluctuations linked to geopolitical tensions in the Middle East.

In major cities, retail fuel prices continue to vary significantly due to differences in state taxes and transportation costs. As of June 3, petrol is priced at around ₹102.12 per litre in Delhi, ₹113.51 in Kolkata, ₹112.21 in Mumbai, ₹108.01 in Chennai, ₹115.73 in Hyderabad, and ₹110.89 in Bengaluru. Diesel prices also show a similar pattern, ranging from ₹95.20 per litre in Delhi to ₹103.82 in Hyderabad, reflecting wide regional disparities across India’s fuel markets.

Also Read: Krishna Swaminathan Assumes Charge As Indian Navy Chief, Outlines Operational Priorities

Market conditions remain closely tied to global crude oil movements, with Brent crude trading near the $97 per barrel mark and West Texas Intermediate hovering around $95. Prices have extended gains for multiple sessions, driven by fading hopes of a near-term US–Iran agreement and renewed geopolitical tensions in the Middle East. The uncertainty has heightened concerns about global supply stability, particularly through strategic shipping routes such as the Strait of Hormuz.

Industry observers note that Indian fuel prices are influenced by a combination of factors, including international crude prices, currency exchange rates, and domestic taxation policies. Since petrol and diesel remain outside the Goods and Services Tax (GST) framework, central excise duties and state-level VAT continue to play a significant role in determining final retail prices, leading to notable variations across states.

Meanwhile, Oil Marketing Companies such as Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation continue to follow a dynamic pricing system that allows daily revisions. However, despite this mechanism, prices are not necessarily updated every day and are often held steady depending on market conditions and policy considerations. With global crude markets remaining volatile, further fuel price changes in India remain a possibility in the coming days.

Also Read: IOC Announces Three-Day Mourning For Veteran Indian Sports Administrator Randhir Singh