Petrol & Diesel Prices Today — July 8: Check fuel prices in Delhi, Mumbai, Bengaluru and Kolkata as Brent extends rally | Today’s news
Petrol and diesel prices today: Fuel prices in India remained steady on Wednesday despite fluctuations in Brent prices following renewed fighting between the US and Iran. Oil extended gains after climbing nearly 3% on Tuesday. Due to geopolitical tensions in the Middle East, the dollar held its highest levels of the week against most of its peers.
The recent surge in global oil prices comes as the US launched a wave of retaliatory strikes against Iran following attacks on vessels in the Strait of Hormuz. A gas ship and a Saudi oil tanker were the three ships that were attacked in the Persian Gulf. The Trump administration also reversed a key element of the interim peace deal by removing a waiver from sanctions that allowed Tehran to sell oil around the world.
US Central Command said in a social media post on X that US forces had “begun to launch a series of heavy strikes against Iran to impose a heavy cost on targeting and attacking commercial shipping”.
Brent crude rose 2.6% to settle at $76.12 a barrel at the start of the Asian trading session on Wednesday, according to a Reuters report. Investor concerns about the stability of the peace deal have resurfaced after Iran attacked ships passing through Hormuz, Westpac analysts said. “Concerns about the inflation outlook took center stage as yields jumped higher around the world,” the report said.
The center issues a statement on the introduction of E20
Amid widespread concerns about the mandate for E20, or gasoline with 20% ethanol, the center issued a statement dismissing reports of customer problems with E20 fuel as “false information.”
Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday: “The car manufacturers, as well as the people who look after these vehicles, all say there is no problem. Why the sudden interest?” he added: “It’s a distortion and I don’t want to use stronger words.”
According to Hardeep Singh Puri, India has been using E15 for the past three and a half years and E20 since April last year. “From April 2025 to April 2026, it has already been one year and now we are another five months away,” ANI quoted the minister as saying.
Even Union Minister Nitin Gadkari issued a clarification on the matter at the ‘Viksit Bharat Conclave’ on Tuesday, saying that India’s dependence on fossil fuels is both an economic burden. ₹22 million crores are spent annually on fuel imports – and it’s an environmental risk, so the adoption of clean energy is essential for the country’s progress.
Insinuating that false narratives were being spread about the introduction of higher ethanol petrol, he said, “There is no case where any car has faced problems due to E20 petrol. Has there been any car in the country that has faced problems due to the use of E20 petrol? Just name one,” PTI reported.
