Petrol & Diesel Prices Today, Sep 4: Fuel prices in Delhi, Mumbai and Bengaluru as Brent heads for biggest weekly gain | Today’s news
Gasoline and diesel prices today, September 4: Fuel rates in India were largely unchanged on Friday, September 4, even as oil headed for its biggest weekly gain since July. State-owned oil marketing companies (OMCs), which revise petrol and diesel prices daily at 6 am, have kept fuel prices steady as India uses a dynamic fuel pricing method.
Domestic fuel retailers have kept commodity prices stable over the past three months despite volatility in global energy prices, which was mainly caused by the US-Iran war and the disruption of the Strait of Hormuz trade route. 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 latest petrol and diesel prices in your city on September 4.
Brent crude oil price today
As investors closely monitor renewed hostilities between the US and Iran, Brent crude futures remained elevated above $95.52 a barrel, up more than 7% for the week, while West Texas Intermediate traded near $92 a barrel, Bloomberg reported.
US-Iran War News Update
After weeks of relative calm, fresh U.S. strikes on Iran this week brought uncertainty to the market and raised concerns about long-term disruptions to energy flows amid geopolitical tensions in West Asia. As US President Donald Trump navigates the conflict ahead of midterms, the US bombing campaign has been met with Iranian retaliation against US bases in the region. Tehran has fired missiles at Jordan, Kuwait and Bahrain and continues to target vessels passing through the Strait of Hormuz, a trade route that carried a fifth of the world’s oil and liquefied natural gas to global markets before the US-Iran war.
Israel has introduced a new risk to the market and raised the prospect of another cycle of military escalation after signaling that it is ready to resume fighting if necessary. “Everything that can happen is on the table. Economic pressure, military pressure, diplomatic pressure, covert pressure. Of course, those are tools in the president’s toolbox,” the vice president said.
South Korea is reportedly preparing to deploy military assets to support freedom of navigation in the Persian Gulf and has held talks with the United States, Britain and France about the scope and nature of a potential contribution. According to a Reuters report, it wants to send maritime patrol aircraft, a logistics support vessel or a mine detection and removal unit by the end of the year.
