Petrol, Diesel Prices Today: How expensive is fuel in Chennai, Bengaluru, Delhi, Kolkata, Mumbai and other cities on June 23? | Today’s news

Petrol and diesel prices today: Fuel prices remained steady on Tuesday despite minor changes. Oil prices rebounded on June 23 after witnessing a sharp decline in the previous session following the latest developments in the Strait of Hormuz, a strategic waterway through which a fifth of global fuel trade takes place. Brent crude futures added 0.38% to 24 cents to trade around $78.15 a barrel, supported by mild optimism about US-Iran peace talks, Reuters reported.

As the US and Iran move towards further discussions on a lasting peace deal, the price of Indian crude oil remained elevated despite falling in June from the peak seen in April. Oil marketing companies (OMCs) have raised the cost of both petrol and diesel due to disruptions in global energy supply chains. Retail refineries in particular raised the price of both gasoline and diesel by more than ₹2.50 per liter in the last hike, which took place on May 25, resulting in a cumulative increase of approx. ₹7.50 a ₹7.60 per liter in petrol and diesel prices.

Read also | Oil prices rebound after sell-off, progress in Strait of Hormuz awaits

As of May 2022, petrol and diesel prices in India are at their highest levels, having remained largely frozen for more than two years, except ₹2 per liter cut in March 2024. OMCs have seen severe under-recovery since international oil prices rose due to the war in West Asia. Retail adjustments were made last month to shift some of the burden of fluctuating global oil prices onto consumers. Let’s check the latest petrol and diesel prices in the city today.

Gasoline prices for the city on June 23

CityPricePrice changeNew Delhi ₹102.120.00Kolkata ₹113.47-0.04 Mumbai ₹111.21 + 0.03 Chennai ₹107.76-0.11 of Gurugram ₹102.97 + 0.17 Noida ₹102.08-0.01 Bengaluru ₹111.68 + 1.07 Bhubaneswar ₹109.03 + 0.22 Chandigarh ₹108.97-0.06 Hyderabad ₹115 690 00 Jaipur ₹113.35 + 0.69 Lucknow ₹101.92+0.03Patna ₹113.37-0.17 Thiruvananthapuram ₹115,490.00

Diesel prices in cities on June 23

CityPriceNew Delhi Price Change ₹95,200.00 Calcutta ₹99,820.00 Mumbai ₹97 830 00 Chennai ₹99.55-0.10 of gurugram ₹95.64 + 0.17 Noida ₹95.56 + 0.02 Bengaluru ₹99.56 + 1.02 Bhubaneswar ₹100.68-0.06 Chandigarh ₹89.470.0Hyderabad ₹103 820 00 Jaipur ₹98.39 + 0.61 Lucknow ₹95.41+0.05Patna ₹99.36-0.18 Thiruvananthapuram ₹104.40-0.01

Reacting to the latest developments on Hormuz, Tim Waterer, chief market analyst at KCM Trade, told Reuters: “The prevailing dose of market skepticism, rooted in deep-seated mistrust between Washington and Tehran, suggests that any return to pre-war oil prices is likely to be delayed rather than immediate.

He added: “The market was optimistic about the plan and the potential reopening of the Strait of Hormuz, but traders are now taking a more measured approach as they wait for concrete evidence that the deal will hold and traffic will return to normal.”

Read also | Oil prices rose 2% as Trump issued a fresh threat during US-Iran peace talks

In a post on Truth Social on Monday, US President Donald Trump said: “Everyone is fully aware that Iran will agree to significant weapons inspections to ensure ‘nuclear honesty’ long into the future. He later warned Tehran against failing to abide by the terms of the ceasefire, saying: “If Iran doesn’t abide by their agreement or if they don’t behave, I will do what I have to do,” Reuters reported.

Impact of war in West Asia and adverse monsoon on India

The Reserve Bank Bulletin said on Monday that Indian growth may face headwinds due to any failure of the US-Iran deal and an unfavorable southwest monsoon.

Read also | US-Iran news LIVE: Iran will manage Strait of Hormuz, Ghalibaf says

An RBI article on the state of the economy published in the June Bulletin indicated that geopolitical tensions and trade disruptions persist despite the recent interim peace deal in West Asia. Asserting that the global economic scene remains fragile, he noted: “Any failure of the deal could re-ignite substantial risks in terms of inflationary expectations, disrupted critical energy infrastructure, delayed investment spending, food security concerns, an adverse financial stability outlook and structurally lower growth.”

According to the article, the Indian economy has fared much better in terms of fundamentals compared to many other countries during this turbulent period. India recorded growth of 7.8 percent in Q4 2025-26, supported by private consumption and fixed investment.

It further said that inflation in the ‘personal care, social protection and miscellaneous goods and services’ section remained the highest as 8 out of 12 sections saw a gradual increase in inflation in May.