Petrol And Diesel Prices Today - 28 Aug: Fuel Rates In Delhi, Mumbai, Bengaluru As Crude Oil Heads For Weekly Loss

(MENAFN- Live Mint) Petrol and diesel prices today, 28 August: Petrol and diesel prices held steady across major Indian cities on Friday, 28 August. There has been largely no change in fuel rates in India as state-owned fuel retailers continue to shield domestic consumers from global price volatility and fluctuation in fuel rates.

Oil Marketing Companies (OMCs) last brought about major price revision on 25 May. Since India follows dynamic fuel price method, fuel rates across major Indian cities recorded marginal changes as they are revised at 6:00 AM daily. In New Delhi, petrol costs ₹102.12 per litre and diesel costs ₹95.20 per litre. Check latest petrol and diesel prices in your city on 28 August.

Also Read | Crude oil prices extend losses despite ongoing US-Iran war tensions Brent crude oil price today

Oil prices are heading for a weekly loss, ending a two-week winning streak, as the global benchmark Brent crude futures plunged 0.3% and was down by 25 cents, to trade around $89.45 a barrel by 0035 GMT, Reuters reported. Meanwhile, West Texas Intermediate crude futures also fell 0.3% and was down by 22 cents, to trade around $83.31. Both benchmarks are poised to snap the winning streak and end the week lower, since Brent is down 5.3% and WTI fell 4.3%.

Also Read | 'Earthquake-like manner': How Iran vows to counter US economic warfare? US-Iran war news update

As mediators push to revive stalled US-Iran diplomacy six months into the war, Washington on Thursday showed no interest in reviving the June memorandum of understanding. Complicating diplomatic efforts to restart talks, White House press secretary Karoline Leavitt said that US President Donald Trump "continues to retain all options on the table" with regard to Iran.

Amid US economic campaign to pressure Tehran, Leavitt in an interview with Fox News said,“We've had Operation Epic Fury to destroy their military. Now we have Operation Economic Outcast to destroy their economy." She added,“No negotiations are happening right now, and this will continue until the president feels that maybe they come to the table in a meaningful way.” To aggressively press on economic sanctions, US needs to take steps against Iranian trade partners, including China and India.

Earlier in the day, Qatar's prime minister visited Tehran to amid deadlock over reopening of the Strait of Hormuz, the strategic waterway between Iran and Oman through which about 20% of global energy supplies passed before the war. Although major combat operations have been halted for weeks but there has been little progress toward a wider peace agreement.

While Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani urged a return to diplomacy during talks with Iran's top negotiator Mohammad Baqer Qalibaf, Iranian Foreign Minister Abbas Araqchi called on regional neighbors to prevent the US from using their territory to carry out military or economic attacks on Iran.

Also Read | US-Iran war news LIVE Updates: Tehran prepares conditions to open Hormuz Congress accuses Centre of ₹36,000 crore sugar scam amid E20 row

Congress general secretary Randeep Surjewala accused the Centre of facilitating a ₹36,000-crore sugar scam amid rise in the prices of the commodity from ₹40 to ₹75 per kg from ₹40 to ₹75 per kg, PTI reported.

Suggesting that this fraud is benefitting hoarders and black-marketeers, he said“When people celebrate Dussehra and Diwali, they will face the brunt of the price rise of sugar this year and shell out more from their pockets. The 12 million tonnes of sugar will amount to ₹36,000 crore, which will directly benefit hoarders and black-marketeers. What could be a bigger example of collusion with those in power?”

At the same time, he charged at Modi government for using 32 per cent of the sugarcane stocks in the production of E20 fuel between November 2025 and July 2026, claiming that this has resulted in reduced stocks of sugar available in the market for the public.

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