Petrol, diesel prices today (October 12): Check latest rates in Delhi, Mumbai, Chennai, Kolkata & more

Petrol and diesel prices today: Petrol and diesel prices remained unchanged across major Indian cities on October 12, even as international crude oil prices stayed above $100 per barrel. However, private fuel retailer Jio-bp raised petrol prices by ₹5 per litre and diesel by ₹3 per litre from October 11, following a similar hike by Nayara Energy earlier this month. State-run oil marketing companies, including Indian Oil, BPCL and HPCL, have kept regular fuel prices unchanged.

Brent crude prices eased to around $103 per barrel, while US West Texas Intermediate (WTI) crude fell to $90.04 per barrel amid expectations of additional oil supplies from Russia. However, continuing geopolitical tensions and potential supply disruptions remain concerns for the global oil market. With India importing around 90% of its crude oil requirements, sustained high prices could put pressure on the country's import bill and fuel retailers' margins.

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Here are the latest petrol and diesel prices in Delhi, Mumbai, Bengaluru and other major cities.

Global crude oil prices eased on October 12 after US President Donald Trump announced a proposed energy ceasefire between Russia and Ukraine, along with a deal for additional Russian diesel supplies. However, escalating tensions in the Middle East, attacks on Saudi Arabia and fresh incidents involving oil tankers continued to raise concerns over global supply disruptions.

Despite the slight decline in crude prices, India’s oil marketing companies remain under pressure as domestic petrol and diesel prices have largely remained unchanged. ICRA estimated that state-run OMCs were facing marketing margins of minus ₹8 per litre on petrol and minus ₹9 per litre on diesel in September, translating into combined daily losses of around ₹530 crore. The continued rise in international oil prices could increase India’s crude import bill and further strain fuel retailers’ margins.

What this means for you

Despite Brent crude reaching $103 per barrel, fuel prices have remained relatively stable over the past week. The rupee-dollar exchange rate is a key variable, given that India relies heavily on imported crude. When the rupee weakens against the dollar, the cost of procuring crude rises, which can feed directly into higher retail fuel prices.

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For daily commuters, this means no major shock at the pump, though prices remain elevated compared to previous years. Consumers should monitor local rates, as city-specific taxes vary even within the same state, leading to differences in retail fuel prices.