Crude oil prices have seen a sharp rise amid geopolitical tensions. Brent crude, the global benchmark, has risen by about 16.8 percent following attacks by the United States and Israel on Iran.

Know the price of petrol and diesel in your city today

Petrol & Diesel Price Today: As tensions escalated in West Asia following the attack on Iran, concerns grew about a possible hike in petrol and diesel prices. However, despite the sharp rise in global crude oil prices, the prices of petrol, diesel, and gas in major cities across the country have not been affected so far. The Indian government has stated that it is no longer solely dependent on Qatar for gas, but is exploring new markets. They are turning to markets unaffected by the war. Several countries, including Australia, have offered gas.

Meanwhile, news agency Press Trust of India (PTI) has quoted government sources as saying that at present, the relief for consumers is that there is no possibility of an increase in prices in the near future.

How will Middle East tensions affect oil?

The government has adopted a strategy in which oil companies can increase their profits when international oil prices fall, while when prices rise in the global market, the companies protect the interests of consumers by bearing the burden for some time. According to a report by global financial services company Nomura, oil marketing companies are currently bearing the impact of increased crude oil prices themselves and are not passing it on directly to consumers.

Crude oil prices have seen a sharp rise amid geopolitical tensions. Following the attacks by the United States and Israel on Iran, global benchmark Brent crude has risen by about 16.8 percent, while West Texas Intermediate (WTI) has gained nearly 14 percent.

On the other hand, India has resumed oil imports from Russia, responding to tensions in the Middle East and meeting its own needs. Reports suggest that India has now opened its doors to Russian oil due to disruptions in oil supplies from the Middle East. India imports approximately 90 percent of its oil needs and recently increased its purchases from the Middle East instead of Russia. However, due to the current situation arising from the Iran war, it has turned to Russian crude oil to avoid difficulties.

Petrol-diesel prices in major cities on March 5, 2026

• Delhi: Petrol Rs 94.77/litre, Diesel Rs 87.67/litre
• Hyderabad: Petrol Rs 107.46/litre, Diesel Rs 95.70/litre
• Bengaluru: Petrol Rs 102.92/litre, Diesel Rs 90.99/litre
• Chennai: Petrol Rs 100.84/litre, Diesel Rs 92.39/litre
• Kolkata: Petrol Rs 105.45/litre, Diesel Rs 92.39/litre
• Lucknow: Petrol Rs 94.69/litre, Diesel Rs 87.81/litre