Petrol, diesel Prices Today, March 12: Rates in Delhi, Bengaluru, Chennai, Mumbai, Kolkata, and other cities

With the war in the Middle East and the Strait of Hormuz blocked, people are worried about a possible increase in fuel prices. Although, their has been no indication from the government of any increase in petrol and diesel prices in India, the worry persists due to the current volatility in the global market. Long queues outside petrol pumps in major cities like Kolkata, Chennai, Noida, among others showed the state of worry among Indians.

Despite the volatility in global market, fuel prices have recorded only slight variations across cities.

After dropping to 77 USD per barrel on March 10, the price of benchmark Brent crude oil is on a sharp upward trend again. In the early trade it breached the $100 per barrel mark again, before trading around $98 around 13:30 PM. The WTI index was trading at a little over $92. This has concerns over rising inflation and broader economic stability.