Petrol, diesel prices today (October 17): 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 17, even as global crude oil prices eased from recent highs. Brent crude fell neared $100 per barrel, while US West Texas Intermediate (WTI) crude rose to $101.4 per barrel in early trade. For the week, WTI added over 10% whereas Brent grew roughly 5%.

The jump in crude oil prices came after Iran escalated attacks in the Strait of Hormuz, severely disrupting commercial shipping and petroleum transit through the strategically vital waterway. Besides this, Iran-backed Houthis fired missiles at Saudi Arabia, triggering concerns over the security of major regional production and export infrastructure.

Despite this, state-run oil marketing companies, including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, have continued to keep regular petrol and diesel prices unchanged in India. However, international oil price volatility remains a concern for fuel retailers, as India imports a large share of its crude oil requirements. If global prices remain elevated, the country's oil import bill and pressure on oil marketing companies' margins could increase, even as retail fuel rates remain stable for now.

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

The recent volatility in global crude oil prices reflects continued concerns over Middle East supply disruptions and the security of key oil infrastructure and shipping routes. While expectations of higher Russian diesel exports could help ease some supply pressures, geopolitical uncertainties continue to influence international energy markets.

Despite fluctuations in crude oil prices, India’s oil marketing companies remain under pressure as retail 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, resulting in combined daily losses of around ₹530 crore. Sustained increases in international oil prices could further strain these margins if retail fuel rates remain unchanged.

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What this means for you

Despite Brent crude nearing $110 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.

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.