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Petrol and diesel prices across India remained unchanged on Thursday, August 27, 2026, despite continued uncertainty surrounding the Strait of Hormuz and volatility in global crude markets. International crude prices, meanwhile, retreated from their recent highs. Brent crude stood at $86.43 per barrel around 1230 GMT on August 26, marking a decline of more than 2%. West Texas Intermediate (WTI) was at $82.23 per barrel, down 0.16% towards the close of the August 26 session.

Amid mounting uncertainty, Iran and Oman are exploring alternative ways to manage the flow of traffic through the crucial Strait of Hormuz. The developments have offered some relief to investors, who are increasingly hopeful that the strategic waterway could partially reopen, allowing oil shipments to resume more smoothly.

Petrol and Diesel Prices Today: City-Wise Rates

However, vessel traffic through the Strait remains subdued as pressure from the US intensifies. Trump has also threatened tougher sanctions against countries that continue trading with Iran, adding another layer of uncertainty to global oil markets.

Despite the recent easing in international crude prices, state-run oil marketing companies kept petrol and diesel rates unchanged across India on Thursday.

While global crude prices play a major role in determining domestic fuel rates, they are not the only factor. The rupee-dollar exchange rate, refining expenses, taxes, dealer margins and other costs also influence the prices set by state-run oil marketing companies.

As a result, Indian consumers may not see an immediate change at the pumps even when international Brent and WTI prices swing sharply. Domestic fuel prices can therefore remain steady despite significant movements in global crude markets.