Petrol & Diesel Prices Today — Aug 31: Fuel rates in Delhi, Mumbai and Bengaluru as Brent rises after US strikes on Iran | Today’s news
Gasoline and diesel prices today, August 31: Petrol and diesel prices remained steady on Sunday, August 31, even as state-run oil marketing companies (OMCs) revise fuel prices daily at 6:00 am. Slight changes in petrol and diesel prices have been observed as India uses dynamic fuel pricing method.
However, fuel prices have remained stable over the past three months despite fluctuations in global energy prices, particularly due to the US-Iran war and the closure of the Strait of Hormuz shipping route, which used to carry a fifth of energy supplies before the war in West Asia. The last major fuel price revision took place on May 25, when gasoline and diesel prices were increased ₹2.7 to ₹2.8 per liter, or Check the current petrol and diesel prices in your city on August 31.
Brent crude oil price today
Global benchmark Brent crude rose 1.9% to trade around $89.75 a barrel after the US military launched its first military action against Iran, breaking a month-long lull in fighting. West Texas Intermediate crude rose 1.7% to trade around $84.80 a barrel as U.S. President Donald Trump resumed using force to bring Iran to the negotiating table after an economic sanctions campaign, Bloomberg reported.
Capital.com senior analyst Kyle Rodda wrote in a note to clients: “Markets look set for an uncertain start to the trading week,” adding: “Geopolitical risk in the Middle East will not help sentiment at all,” Bloomberg reported.
US-Iran War News Update
The latest US attack on Iranian missile launchers in the Strait of Hormuz comes nearly a month since the US military last confirmed targeting Iran on July 29. In response, Iran vowed retaliation for the deadly attack, signaling an escalation of the war in West Asia.
Amid the US blockade of Iranian ports, US Central Command said in a post on X: “As of August 30, CENTCOM forces diverted 83 commercial vessels, decommissioned 3 and boarded 2 to ensure compliance with the blockade.” US Central Command spokesman Tim Hawkins claimed Revolutionary Guard forces were observed preparing to launch sea-mine rockets into the strait, prompting the US military to take steps last week to remove naval mines from the strait’s international shipping lanes to “protect civilian seafarers, commercial shipping and the free flow of global trade”.
The sounds of explosions were heard near Larak Island in the strait, according to Iranian semi-official reports. The Irish Revolutionary Guards said in a statement: “The martyrdom and wounding of several of our fighters and countrymen,” Iranian state television reported. In response to the US strikes, Iran fired ballistic missiles at US bases in Jordan on Monday, Iranian state television said. Jordan, meanwhile, said it had intercepted eight missiles that had penetrated the country’s airspace.
