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Crude oil prices have risen once again due to escalating tensions between the US and Iran and disruptions to oil supplies via the Strait of Hormuz shipping route.

Today, September 5, 2026, petrol and diesel prices remain stable across the country. State-owned oil marketing companies (OMCs) update fuel prices daily at 6 AM, and no changes have been made today. Petrol and diesel prices have remained unchanged since May 25; at that time, oil companies had hiked petrol prices by ₹2.61 per litre and diesel prices by ₹2.71 per litre.

City-wise petrol and diesel prices

Rising crude oil prices

Tensions between the US and Iran persist, raising concerns about potential disruptions to crude oil supplies through the Strait of Hormuz. In the international market, the price of Brent crude has neared the $95–$96 per barrel mark.

Today, Brent crude is trading between $95.66 and $96.05 per barrel. It has recorded a weekly gain of over 7% so far this week.

Meanwhile, the US market benchmark, WTI crude, is hovering around $91.17 to $91.56 per barrel. It has also witnessed a sharp rise of approximately 9.8% this week.

Will petrol and diesel rates rise?

Despite such a significant surge in global markets, India's state-owned oil companies (OMCs) have kept retail prices stable, making no changes to them. However, experts believe that Indian oil companies can absorb crude oil prices of up to $85–$90 per barrel; yet, if prices remain above the $95–$100 per barrel mark for a prolonged period, these companies might raise petrol and diesel prices in the near future to help protect their refining margins.