Petrol, diesel prices today (October 19): Check latest rates in Delhi, Mumbai, Chennai, Kolkata & more

Petrol and diesel prices today: Petrol and diesel prices are likely to remain in focus on October 19 as retail fuel rates across major Indian cities stay unchanged, despite a slight decline in international crude oil prices. Brent crude futures fell 1.72% to $108 per barrel on October 19, while US West Texas Intermediate (WTI) crude slipped 0.79% to $100.88 per barrel. The decline followed US President Donald Trump’s decision to waive certain sanctions and tariffs on Russia, raising expectations of increased fuel supplies to the global market.

However, the outlook for crude oil remains uncertain as geopolitical tensions in the Middle East continue to threaten energy supplies and shipping routes. Reuters reported that oil flows through the Gulf had fallen sharply amid the regional conflict, while attacks involving Iran-backed Houthi forces have heightened concerns over the security of Saudi energy infrastructure. These developments could keep global oil prices volatile in the coming days.

For Indian consumers, the key question is whether the easing in crude prices will translate into lower petrol and diesel rates. State-run oil marketing companies, including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, have so far kept retail prices unchanged across major cities. Since India relies heavily on imported crude oil, sustained price volatility can affect the country's import bill and fuel retailers' marketing margins, even when pump prices remain stable.

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International crude oil prices eased on October 19 after US President Donald Trump’s decision to relax certain sanctions on Russian fuel supplies raised expectations of improved availability in global markets. However, disruptions to oil flows through the Gulf and continued security concerns around key shipping routes are keeping supply risks elevated.

For India, the recent price movements offer some relief, but the financial pressure on oil marketing companies remains significant. A report by The Times of India, citing brokerage Jefferies, said state-run fuel retailers were estimated to be losing around ₹26 per litre on petrol and ₹30 per litre on diesel amid the surge in crude procurement and transportation costs. Earlier, ICRA had estimated marketing margins at 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 extent to which lower international prices can ease this pressure will depend on how crude and refined fuel prices move in the coming days.

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What this means for you

Despite Brent crude $108 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.