International crude prices climbed Thursday as Strait of Hormuz shipping risks tightened global supply, while Indian state-owned refiners kept retail pump rates unchanged. Major cities face steady rates despite escalating Middle East conflict, though private retailer Nayara Energy previously lifted local fuel prices.
Global energy markets face renewed upward pressure as transportation risks mount in critical maritime trade corridors. Brent crude futures rose about $1.33 to reach $101.53 per barrel, while US West Texas Intermediate crude advanced roughly $1.11 to stand at $89.39 per barrel, according to market tracking data published Thursday. The uptick follows growing concerns over shipping security near the Strait of Hormuz, a crucial trade route that previously handled roughly 20 percent of global oil and fuel supplies prior to the current conflict. Middle East tensions have broadened further with the involvement of Houthi fighters, compounding supply anxiety alongside statements from Russian President Vladimir Putin in Moscow that Russia will withhold diesel shipments from world markets until existing sanctions are lifted.
State Refiners Hold Pump Prices Steady in Major Cities
Despite rising international benchmarks and mounting regional tensions, retail fuel prices across major Indian urban centers remained stable. State-owned oil marketing companies reviewed pricing schedules during their routine 6:00 AM assessment but opted against passing the full international cost burden onto domestic consumers.
| City | Petrol (₹/Liter) | Diesel (₹/Liter) |
|---|---|---|
| New Delhi | 102.12 | 95.20 |
| Mumbai | 111.21 | 97.83 |
| Kolkata | 113.51 | 99.82 |
| Chennai | 107.77 | 99.55 |
| Bengaluru | 111.68 | 99.56 |
Retail prices continue to vary across municipal boundaries due to regional tax structures. State governments levy distinct value-added tax rates and local charges on top of the central excise duties, while petroleum products remain outside the unified goods and services tax framework, as outlined in regulatory breakdowns from economic correspondents. Consumers seeking real-time pricing updates can verify local rates via SMS verification systems established by fuel retailers, such as messaging RSP
to designated helplines provided by IndianOil and BPCL.
Private Refiners Adjust Pricing While State Margin Deficits Grow
While public sector retailers absorb international cost pressures, private fuel operators have taken a different approach to market realities. Private refiners like Reliance Industries and Nayara Energy have reaped substantial export profits as worldwide diesel values roughly doubled, whereas state oil companies face daily losses of crores of rupees due to frozen retail pump rates, according to industry analysis covering private versus state refiners. Petroleum Ministry figures show that between April and August 2026, Reliance processed 7.57 lakh barrels per day of crude oil at its Jamnagar refinery against a capacity of 7 lakh barrels per day, while Rosneft-controlled Nayara Energy exported over 1 lakh barrels per day to rank as the second-largest exporter.
Inventory Data and Global Supply Constraints Shape Outlook
Supply fundamentals abroad continue to support elevated energy valuations. Concurrently, distillate fuel inventories including diesel and jet fuel edged down to settle at 105.14 million barrels, according to regional energy market reports tracking weekly stock movements.
