Petrol and diesel prices today: Fuel prices in Delhi, Mumbai and Bengaluru as crude rises after Saudi shuts key pipeline | Today’s news
Petrol & Diesel Prices Today – September 14: Fuel rates in Indian cities saw modest changes on Monday, September 14, but continued to adjust to the May 25 price revision despite significant volatility in global energy prices. Global benchmark Brent extended its recovery after Saudi Arabia shut down a key pipeline.
State-owned oil marketing companies (OMCs), which follow the dynamic fuel pricing method, continue to insulate domestic customers from fluctuations in international energy prices. While India’s fuel rates are revised daily at 6am, they have been stable for three months and reflect the last major price adjustment, when petrol and diesel were hiked by ₹2.7 to ₹2.8 per liter, or
Fuel rates vary from state to state in India mainly due to taxes and local charges at the state level. Check the current petrol and diesel prices in your city on September 14.
Oil price today
Over the past few days, Iran-backed Houthi militants have stepped up airstrikes on Saudi energy infrastructure along Yemen’s Red Sea, prompting the kingdom to shut down operations on a major oil pipeline, deepening the global energy crisis. The escalation of hostilities at another important maritime critical point – the Bab el-Mandeb Strait – has introduced a new risk to the market. This shipping route was used to bypass the breach of the Strait of Hormuz during the US-Iran war.
Brent jumped 3.6% on Monday to trade above $108 a barrel, while West Texas Intermediate also traded near $103, Bloomberg reported.
After the Saudi pipeline shut down, senior oil market analyst at Sparta Commodities SA June Goh said: “It all boils down to duration,” adding that if flows are restored quickly, the impact should be limited as supplies at Yanbu, the western end of the pipeline, could be depleted, but a longer shutdown could force production cuts.
According to Omani Foreign Minister Badr Albusaidi, a planned meeting between Iran and several Gulf countries for later Monday on the creation of a temporary shipping route through the Persian Gulf has been postponed. Bahrain had earlier distanced itself from the meeting, citing in part a strike on the East-West pipeline, while Riyadh also expressed reservations about the plan, Axios reported.
Update on America’s War with Iran
Recent developments point to rapidly deteriorating relations between Iran and the West, as Iran’s top official was blocked from speaking at the International Atomic Energy Agency’s general conference in Vienna on Monday.
Iran’s vice president for nuclear affairs, Mohammad Eslami, who is also head of the Atomic Energy Organization, was barred from the annual gathering for the first time in years after pressure from the Trump administration.
US President Donald Trump on Sunday (local time) dismissed a report accusing Tehran of accessing Chinese satellite imagery over an attack on a base in Jordan that killed three US soldiers in July.
