Today, September 29, retail fuel prices in India remained unchanged despite a second consecutive rise in crude oil costs. State-run oil marketing companies kept rates steady after their 6:00 a.m. daily revision.
Across major metros, including Delhi and Bengaluru, fuel rates held their ground, with both petrol and diesel reported unchanged.
In Mumbai, the retail price of petrol stood at ₹111.21 per litre, identical to the previous day. Over recent days the price has moved only within a narrow band of ₹111.18 to a few paise higher.
By 0002 GMT, Brent crude futures rose 63 cents, or 0.6 percent, to $105.91 a barrel, while U.S. West Texas Intermediate climbed 72 cents, or 0.8 percent, to $93.32.
The rally was linked to persistent worries that the ongoing U.S.–Iran conflict could disrupt Middle-East supplies, outweighing data that suggested a steady recovery in regional crude exports.
Preliminary figures from data provider Kpler showed regional supply rising, with crude exports from major Middle Eastern producers reaching 12.8 million barrels per day in September, the highest level since February, boosted by larger shipments from Saudi Arabia and the United Arab Emirates.
The decision by OMCs to hold prices illustrates how the government shields consumers from short-term oil market volatility. While this approach can temper inflation pressures, it also compresses profit margins for the marketers.
Against this backdrop, U.S. and Iranian officials held separate mediated talks on Monday, renewing diplomatic efforts to end the seven-month war.
An official briefed on the talks said future negotiations will centre on an amended version of Iran’s seven-day proposal presented at the United Nations General Assembly last week.
“If the Americans claim they are seeking an agreement or a peaceful solution, we have presented that solution,” Iranian Foreign Minister Abbas Araqchi told state news agency IRNA.
President Donald Trump told reporters at the White House that American officials had engaged with mediators on Monday, but declined to share further details.
The conflict, which erupted in late February after U.S. and Israeli strikes on Iran, has claimed thousands of lives and disrupted global markets by threatening maritime traffic through the Strait of Hormuz.
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