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Petrol-Diesel Rates: No changes have been observed in petrol and diesel prices across the country today. However, according to a report, oil marketing companies are still incurring losses on every liter sold.

Petrol-Diesel Rates Today (June 4): Military tensions between the US and Iran have escalated once again. Consequently, a state of uncertainty persists regarding a potential peace agreement between the two nations. This very uncertainty is exerting pressure on Asian stock markets while simultaneously driving a fresh surge in Brent crude oil prices.

Oil Companies Still Operating at a Loss

Earlier on Monday, Moneycontrol reported that analysts believe oil marketing companies may need to hike fuel prices by an additional ₹12 per liter to offset their losses.

According to analysts, despite four consecutive price hikes in petrol and diesel last month, state-run oil marketing companies (OMCs) are still incurring a marketing loss of approximately ₹5.5 per liter on petrol and ₹4.5 per liter on diesel.

They estimate that global crude oil prices are rising due to the escalating conflict in the Middle East. According to government data, the three state-run oil companies—Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation—are collectively incurring daily losses of approximately ₹550 crore. This situation arises because they are purchasing crude oil at high rates in the international market while selling petrol and diesel domestically at fixed, regulated prices.

Petrol and Diesel Prices Today

On Thursday, June 4, no changes were observed in petrol and diesel prices across the country. According to the rates released at 6:00 AM this morning, fuel prices nationwide remain completely stable. Crude Oil Prices on the Rise Again

According to a Bloomberg report dated June 3, oil prices surged for the third consecutive day due to disruptions in peace talks between the U.S. and Iran, as well as attacks carried out by Israel against Lebanon. The report further noted that the price of Brent crude neared $97 per barrel, while West Texas Intermediate (WTI) crude jumped by over 7% during the first two trading sessions of the week, approaching the $95 mark.

The report also stated that U.S. President Donald Trump remains optimistic regarding a peace agreement with Iran and has dismissed reports suggesting that negotiations have stalled due to Israeli airstrikes in Lebanon. However, the report also indicated that oil prices have surged once again due to a lack of clarity regarding the extension of the current ceasefire and the reopening of the Strait of Hormuz. Oil prices had declined in May amidst optimism surrounding a potential agreement.