Petrol, Diesel Prices Today, 9 April - Fuel Rates In Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad, Others

(MENAFN- Live Mint) Petrol and diesel prices today, 9 April: Petrol and diesel prices remain largely unchanged across major Indian cities, such as Delhi, Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad, despite significant fluctuations in the global oil market.

Following the announcement of 2-week ceasefire on 7 April by Iran and US President Donald Trump, the West Asia conflict has come to a pause, which caused tremendous volatility in the oil market across the globe.

The easing of energy prices was short-lived after recent escalation of attacks in Lebanon. Notably, crude oil prices witnessed an upward swing by about 50% since the Middle East war began on 28 February due to supply disruption along the critical trade route - Strait of Hormuz.

Also Read | LPG cylinder price on April 9: How much does domestic and commercial gas cost? City-wise Petrol and diesel price today - 9 April

To assess the situation of fuel availability in India, Defence Minister Rajnath Singh convened the 3rd meeting of the Group of Ministers on West Aisa on 8 April at Kartavya Bhawan-2, New Delhi.

In a post on X, he wrote,“Chaired the 3rd meeting of the Group of Ministers on West Asia. Reviewed the measures being taken in the wake of evolving situation in the West Asia. The Government is ensuring continued availability of LPG, petrol and diesel, fertilisers for farmers and facilitating supply of essential commodities in the country.”

Also Read | Crude oil gains as Strait of Hormuz uncertainty offsets ceasefire relief

Hours after Tuesday's ceasefire announcement, Israel pounded Lebanon with its heaviest strikes yet on Wednesday. Hundreds of people were killed in the attack with Iran threatening with a retaliatory response. Considering the escalation in violence in Lebanon, Iran's lead negotiator Mohammed Bager Qalibaf suggested that it would be "unreasonable" to proceed with talks to forge a permanent peace deal with the United States.

With peace talks slated for Saturday, Qalibaf stressed that Israel had already violated several conditions of that ceasefire by ramping up its parallel war against the Iran-aligned militia Hezbollah. In a statement, he said,“In such a situation, a bilateral ceasefire or negotiations were unreasonable,” Reuters reported.

Also Read | Comex gold, silver prices fall up to 3% amid uncertainty over US-Iran ceasefire

Israeli Prime Minister Benjamin Netanyahu insisted that the strikes would continue as the two-week ceasefire did not cover Lebanon.

"I think the Iranians thought that the ceasefire included Lebanon, and it just didn't," Reuters quoted US Vice President JD Vance as saying.

Brent crude oil price rises by 3%

With uncertainty over US-Iran ceasefire deal, stocks declined and oil rose after Tehran condemned the latest round of attacks and said several terms of the agreement had been breached. Notably, brent crude rose by 3% on Thursday to $97.64 a barrel, rebounding from its worst plunge in over six years.

Also Read | White House demands Iran reopen Hormuz immediately after closure claims

“The fragility of the ceasefire is already being tested with reports Iran closed the Strait of Hormuz in response to attacks on Lebanon by Israel,” Asia Pacific currency strategist at Corpay Solutions in Sydney, Peter Dragicevich said. He added,“The situation in the Middle East has relatively improved, but things remain fluid and given the volatile participants involved it could deteriorate at any time.”

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