On Friday, Brent crude settled nearly 4% lower at $96.78 per barrel, while US West Texas Intermediate (WTI) crude declined 3% to $89.31 per barrel.
On Friday, Brent crude settled nearly 4% lower at $96.78 per barrel, while US West Texas Intermediate (WTI) crude declined 3% to $89.31 per barrel.
On Wednesday, Brent crude futures, the global benchmark, surged more than 3% to settle at $94.07 a barrel. US West Texas Intermediate (WTI) crude also gained around 3% to close at $86.83 per barrel.
Oil prices had surged on Monday after US President Donald Trump said Iran would "pay" for the deaths of three US service members, while Yemen's Houthi militants announced a maritime embargo on Saudi Arabia.
Brent crude traded above $90 a barrel, extending last week's rally after the ceasefire between the US and Iran effectively collapsed, renewing concerns over oil flows through the Strait of Hormuz.
State-run oil marketing companies have kept petrol and diesel prices unchanged on July 18 despite a sharp rally in global crude oil prices. Brent crude settled above $88 per barrel amid Middle East tensions
While international crude rates are the biggest factor for fuel prices in India, they aren't the only ones. Taxes, freight costs, refining margins, and the rupee-dollar exchange rate also play a key role in determining what you pay at the pump.
While international crude rates are the biggest factor for fuel prices in India, they aren't the only ones. Taxes, freight costs, refining margins, and the rupee-dollar exchange rate also play a key role in determining what you pay at the pump.
Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to follow the daily dynamic pricing system, under which pump rates can be adjusted every morning based on global crude prices and currency movements.
State-run oil marketing companies, including Indian Oil, Hindustan Petroleum and Bharat Petroleum, kept fuel rates unchanged for the day.
On Friday, July 10, 2026, petrol and diesel prices remained unchanged despite movement in the global crude prices over the past week. State-run oil marketing companies such as IOCL, HPCL, BPCL did not change their fuel prices for the day.
Oil prices extended their sharp rally on Thursday after the US struck targets in Iran for a second straight day, reviving fears of disruption to energy supplies from the Middle East.
While global crude prices have fallen over the past week amid easing geopolitical tensions and higher OPEC+ production, Indian consumers are yet to see any relief at the fuel pumps as petrol and diesel prices remain unchanged.
While global crude prices have fallen over the past week amid easing geopolitical tensions and higher OPEC+ production, Indian consumers are yet to see any relief at the fuel pumps as petrol and diesel prices remain unchanged.
While global crude prices have fallen over the past week amid easing geopolitical tensions and higher OPEC+ production, Indian consumers are yet to see any relief at the fuel pumps as petrol and diesel prices remain unchanged.
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.
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