Petrol & Diesel Prices Today – Sep 11: Fuel prices in Delhi, Mumbai and Bengaluru, oil extends rise | Today’s news

Petrol and Diesel Prices Today, September 11: Fuel rates in Indian cities saw slight changes on Friday, September 11, but remained in line with the May 25 price revision. Global benchmark Brent crude extended its rally amid escalating fighting in West Asia as Iran-backed Houthi militants stepped up airstrikes on Saudi energy infrastructure.

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 remain stable and reflect the last major price adjustment when petrol and diesel were hiked by ₹2.7 to ₹2.8 per liter, or Commodity prices have therefore been stable for more than three months, despite significant fluctuations in global energy prices. Check the current gasoline and diesel prices in your city on September 11.

Oil price today

Brent crude rose 0.4% on Friday after rising 6% to near $110 a barrel in U.S. trading and is on track for its biggest weekly gain since July, according to Bloomberg. Meanwhile, West Texas Intermediate crude gained 0.9% to trade around $103.40 a barrel.

RBC Capital Markets LLC analyst Helima Croft responded to the Houthis’ advance into one of the world’s most critical straits, saying it would “allow the group to project its disruptive capabilities further south to the waterway’s narrowest points.” She added: “The resumption of a full-blown Saudi-Houthi war would be a potential catalyst for our high oil price scenario coming true,” Bloomberg reported.

US-Iran War News Update

US President Donald Trump said on Thursday (local time) that he does not regret the ongoing war in Iran, despite the impact the conflict may have on November’s US midterm elections. The statement comes as Washington renewed attacks against Tehran, with the Islamic Republic retaliating with strikes on US bases in West Asia.

Introducing a new risk to the market and fueling fears of deeper supply disruptions, the Houthis advanced towards coastal areas bordering the Bab al-Mandeb Strait and gained ground in their attempt to seize Mokha near the southern end of the Red Sea. Danger to shipping through the Strait of Hormuz remains as two ships were hit by unidentified projectiles west of Khasab, Oman, on Thursday, British Maritime Merchant Operations said.

Operations at some Saudi energy facilities have ground to a halt since renewed Houthi attacks in the past two weeks. The increase in oil purchases in China also affected oil prices. Brent crude has jumped nearly 80% this year but remains below its wartime high of $126 a barrel hit in April.

Capital Economics Ltd Commodity Economist Hamad Hussain said: “Market participants appear to be reassessing their expectations about the severity and duration of the Iran war.” He further noted that a renewed disruption to flows in West Asia could potentially push prices back to recent highs as a result of global supply depletion and a revival in Chinese demand.