Petrol, diesel prices today (October 22): Check latest rates in Delhi, Mumbai, Chennai, Kolkata & more

Petrol and diesel prices today: Petrol and diesel prices across major Indian cities remain in focus on October 22 as international crude oil prices climb amid fresh tensions in West Asia. Brent crude futures rose by over $1 to $110.5 per barrel, while US West Texas Intermediate (WTI) crude gained more than $1 to reach $98.36 per barrel on October 22. The rise follows intensified Houthi attacks in Saudi Arabia and growing concerns over the safety of oil shipments through the Gulf region and key maritime routes.

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For India, which relies heavily on imported crude oil to meet its energy needs, sustained high oil prices could increase the pressure on fuel import costs and oil marketing companies. Despite the latest increase in international benchmarks, retail petrol and diesel rates have remained largely unchanged in recent days. Consumers will continue to watch for any changes in pump prices as geopolitical developments and supply concerns keep global energy markets volatile.

The financial pressure on India's oil marketing companies (OMCs) has intensified as rising crude procurement and transportation costs erode margins on domestic fuel sales. According to a recent report by The Times of India, citing brokerage firm Jefferies, fuel retailers are facing estimated losses of around ₹26 per litre on petrol and ₹30 per litre on diesel amid the ongoing conflict in West Asia. With Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum keeping retail prices largely unchanged, the companies are bearing much of the increase in input costs.

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If international crude prices and shipping expenses remain elevated, their financial burden could rise further. For consumers, petrol and diesel prices remain unchanged for now, but prolonged supply disruptions and higher import costs could increase pressure on future retail pricing decisions.

What this means for you

Despite Brent crude at $110.4 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.