Petrol, Diesel Prices Today, September 3: Fuel Rates Stay Steady Despite Crude Oil Easing Check City-Wise Rates

Petrol and diesel prices remained unchanged across major Indian cities on Thursday, September 3, despite a decline in global crude oil prices. Consumers in Delhi, Mumbai, Bengaluru, Chennai, Kolkata and other cities will continue to pay the prevailing fuel rates, with state-run Oil Marketing Companies (OMCs) revising prices every day at 6 am under India's dynamic fuel pricing system.

Brent crude prices eased to $95.10 a barrel, while US West Texas Intermediate (WTI) crude slipped to $90.66. The decline came amid geopolitical developments after US President Donald Trump played down the possibility of a prolonged conflict with Iran. Despite the recent movement in international crude prices, domestic petrol and diesel rates have remained broadly stable for around three months.

The last major revision in domestic fuel prices came on May 25, when petrol became costlier by around Rs 2.70 per litre and diesel by Rs 2.80 per litre. Since then, retail fuel prices have largely remained unchanged despite volatility in global energy markets linked to the US-Iran conflict and disruption around the Strait of Hormuz.

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Petrol and Diesel prices today - September 3

Amid the continuing US-Iran tensions, BOK Financial Securities senior vice president Dennis Kissler said,“The latest escalation should keep support under the market, however, keep in mind both the US and Iran are looking for off-ramps here,” adding,“More peace talks could deflate prices quickly.”

Meanwhile, Chevron CEO Mike Wirth said the global oil market is moving closer to balance, although risks remain. US Energy Secretary Chris Wright also noted that oil continued to leave the Persian Gulf despite disruptions around the Strait of Hormuz.

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