Petrol & Diesel Prices Today — 5th July: Latest Fuel Prices in Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad & Other Cities | Today’s news

Gasoline and diesel prices today: Fuel prices in India remained flat with little change on Sunday, July 5. Even as Brent crude, the international oil benchmark, recently erased its wartime rally in its biggest quarterly decline since 2020, fuel prices in India remained steady.

Due to the easing of tensions in West Asia, global oil prices fell to a four-month low and returned to pre-war levels. Since the US and Iran signed a 14-point memorandum of understanding in mid-June to reopen the Strait of Hormuz, oil prices have extended their decline despite a brief period of volatility. Recent positive discussions in Qatar to convert their interim 60-day ceasefire into a permanent agreement have encouraged the resumption of cross-strait flows.

State-run oil marketing companies (OMCs) are unlikely to reduce domestic fuel prices anytime soon as domestic retail refineries are still processing more expensive crude bought during the height of the crisis in West Asia, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said. Hardeep Singh had earlier said that a future adjustment in fuel prices is possible if international oil prices remain stable.

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However, OMCs have roughly reduced aviation turbine fuel (ATF) prices. ₹5 per liter and reduced commercial LPG rates by 19 kg ₹183.50 per cylinder on July 1 as part of its monthly revision. This marked the first reduction in nearly 4 months as these fuels track global crude oil benchmarks.

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At the same time, the rate of 5 kg bottles at a discounted price or free trade on LPG (FTL) was also reduced. ₹13 to ₹808.50 per 5kg cylinder. Nayara Energy, India’s largest private retailer, also announced a cut in fuel rates. The Rosneft-backed company has reduced gasoline and diesel prices by ₹5 a ₹3 per liter, or This price revision made it the first retailer in more than two years to cut pump rates.

Check the current price of petrol and diesel in your city on July 5

CityPetrol priceDiesel priceNew Delhi ₹102.12 ₹95.20 Calcutta ₹113.51 ₹99.82 Mumbai ₹111.21 ₹97.83 chennai ₹107.77 ₹99.55 of Gurugram ₹102.97 ₹95.64 Noida ₹101.96 ₹95.44 Bengaluru ₹111.68 ₹99.56 Bhubaneswar ₹110.49 ₹102.15 Chandigarh ₹101.54 ₹89.47 Hyderabad ₹115.69 ₹103.82 Jaipur ₹112.66 ₹97.78 Happiness ₹101.86 ₹95.36 Patna ₹113.37 ₹99.36 Thiruvananthapuram ₹115.49 ₹104.40

On 4 July, Hardeep Singh Puri issued a statement on the centre’s campaign to blend ethanol as part of its strategy to reduce oil imports, reduce carbon emissions and boost the domestic agricultural economy. He dismissed concerns about ethanol-laced fuel and its impact on vehicle performance, saying claims that E20 fuel attracts pests or damages vehicle engines are “rumors.”

Addressing the media in Jodhpur, Rajasthan, Puri said, “Over the past few days, you may have noticed the uproar on social media regarding the blending of biofuels. I welcome criticism. If you feel there are flaws in the work we are doing, please point them out and we will listen to you; we will incorporate your suggestions in our work and make necessary corrections,” ANI reported.

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The price of Brent oil falls as more tankers pass through the Strait of Hormuz

Brent futures traded just above $72 a barrel on July 4, with volumes falling due to the US Independence Day holiday. According to a Bloomberg report, more than 60 million trapped barrels have been flooded in the weeks since the US-Iran peace deal was signed. The oil surplus is the result of the frozen stockpiles returning when the war began.

Oil exports from Saudi Arabia and the United Arab Emirates have returned to pre-war levels. Moreover, Iranian oil, which has been subject to tough US sanctions for years, is also available in the market after the US issued a waiver from the sanctions.

Natasha Kaneva, head of commodities research at JPMorgan Chase & Co, said: “The market faces the risk of a temporary glut as trapped oil finally re-enters a system that has spent months learning how to function without it,” adding: “The bars now leaving Hormuz increasingly have nowhere to go but China. But China is not buying,” Bloomberg reported.