Petrol & Diesel Prices Today — June 24: Check fuel prices in Chennai, Bengaluru, Delhi, Kolkata, Mumbai as oil continues to fall | Today’s news
Petrol and Diesel Prices Today, June 24: Fuel prices in India were little changed on Wednesday. However, the price of Indian basket oil remained elevated despite positive developments over the Strait of Hormuz, a strategic waterway through which a fifth of global fuel trade takes place.
Oil Marketing Companies (OMCs) last month raised both petrol and diesel prices by approx ₹7.50 per liter for petrol and ₹7.60 for diesel, after several revisions. The last price increase occurred on May 25 due to disruptions in global energy supply chains. Brent crude remained flat on Tuesday, buoyed by optimism over US-Iran peace talks. Let’s check the latest petrol and diesel prices in the city today.
Gasoline prices for the city on June 24
CityPricePrice changeNew Delhi ₹102.120.00Kolkata ₹113,470.00 Mumbai ₹111.210.00 Chennai ₹107,760,00 gurugrams ₹102,970.00 Noida ₹102 080 00 Bengaluru ₹110.93-0.75 Bhubaneswar ₹108 970 00 Chandigarh ₹101 540 00 Hyderabad ₹115 690 00 Jaipur ₹113 350 00 Lucknow ₹102.08+0.16Patna ₹113.37-0.17 Thiruvananthapuram ₹115,490.00
Diesel prices in cities on June 24
CityPriceNew Delhi Price Change ₹95,200.00 Calcutta ₹99,820.00 Mumbai ₹97 830 00 Chennai ₹99,550.00 Gurugram ₹95 640 00 Noida ₹95 560 00 Bengaluru ₹98.80-0.76 Bhubaneswar ₹100 680 00 Chandigarh ₹89 470 00 Hyderabad ₹103 820 00 Jaipur ₹98 390 00 Lucknow ₹95.56+0.15Patna ₹99.36-0.18 Thiruvananthapuram ₹104.40-0.01
Crude continues to soften as traffic flows through the Strait of Hormuz
Oil softened further as more tankers openly crossed the Strait of Hormuz on Tuesday, with the US and Iran signaling progress in talks to formally end their war. In the first round of peace talks in Switzerland, the US agreed to drop sanctions on Iran for 60 days from Monday. Brent crude, the international benchmark, closed above $77 a barrel on Tuesday.
Read also | US-Iran peace talks: Ghalibaf says Tehran will manage Strait of Hormuz
As a result, markets weighed on the impending wave of oil and crude oil futures, which have fallen by more than a third from their wartime highs. In an effort to lure Asia’s largest refiners, Washington temporarily authorized the purchase of Iranian oil. Both the U.S. and Iran have signaled early progress in talks to end the war that began in late February, though further talks are likely to be lengthy and there have been mixed claims.
Amid concerns that Tehran will levy fees on cargo passing through Hormuz, the Islamic Republic and Oman said they were starting work on a pact to manage the waterway, including transit management costs. Confidence is growing among shipowners and traders to send vessels through the Strait of Hormuz as tensions ease and traffic increases.
“I think the market has been waiting for the last of the hopeful bulls to give up and we’re finding a bottom near $75,” Enverus oil and gas analyst Carl Larry was quoted as saying by Bloomberg. He added: “There are a lot of questions ahead: the exchange of supplies, the waiting time for loadings, China back on the buy side.”
Read also | 11 India-bound vessels carrying crude oil, LPG cross Strait of Hormuz: Govt
Is Donald Trump facing internal pressure?
US President Donald Trump is facing domestic pressure as the Republican-led Senate voted to end America’s war with Iran on Tuesday, signaling that the president lacks domestic support for the effort.
Read also | Is Mojtaba Khamenei alive? USA says “We haven’t seen him in public…”
Secretary of State Marco Rubio is set to visit the United Arab Emirates to discuss the Strait of Hormuz issue with regional Asian allies as he seeks to make sure the interim deal Washington signed with Tehran last week is good for their security and economy. Rubio will also travel to Kuwait and Bahrain this week.
Iran insisted on its sovereignty over the strait and on Tuesday issued a joint statement with Oman saying they planned to work out an agreement on the trade route and the costs to be charged for the services. Ahead of the regional tour, Rubio said, “It’s an international waterway. No country is allowed to collect tolls or fees on an international waterway,” he said, adding that he believed “all the countries in this region will agree.”
Macquarie cuts Brent forecast
Macquarie Group Ltd cut its forecast oil prices for 2026 and 2027 in anticipation of a quick return to normal oil flows out of the Persian Gulf. The bank cut its Brent crude price projection from $89 a barrel in 2026 to $77. At the same time, it lowered the outlook for the average Brent price for 2027 from $74 per barrel to $64.
