Petrol, diesel prices today, 24 July: Fuel rates in Delhi, Mumbai, Bengaluru, Kolkata as crude hits triple digits

Fuel Prices Today: Crude Oil Breaks $100 Barrier

Theindiapostdaily.com – Petrol diesel prices today 24 July remain steady across major Indian cities as international crude oil surpasses the triple-digit milestone. Despite Brent crude climbing beyond $100 per barrel for the first time in two months, retail fuel rates in Delhi, Mumbai, Bengaluru, and Kolkata have shown remarkable stability. This consistency stems from adjustments implemented on May 25, when oil marketing companies decided to shield domestic consumers from global market volatility.

Global Market Forces at Play

International crude benchmarks experienced significant movement on July 23, with Brent crude hovering near $99.97 per barrel as of 0126 GMT. The slight 0.72% decline came amid escalating West Asian tensions that have heightened concerns about energy supply disruptions. Simultaneously, United States military operations against Iran entered their thirteenth consecutive day, while Houthi attacks on Red Sea tankers contributed to ongoing market uncertainty.

President Donald Trump’s indication of potential expanded strikes against Iran triggered crude futures to surge approximately 13.5% throughout the week, according to Reuters reporting. West Texas Intermediate (WTI) traded at roughly $91.49 per barrel, recording a 0.76% decrease as the President warned adversaries about repercussions for Red Sea vessel attacks.

If Red Sea traffic is minimal, then we would forecast $120, kind of the inflection point for oil.

The breakdown of the June 17 ceasefire agreement has nearly halted traffic through the Strait of Hormuz, with no immediate signs of revival. Market participants are closely watching the Red Sea as a crucial alternative export route. Persian Gulf conflicts raise the probability of rerouting through the Suez Canal and around Africa following Houthi operations, allowing Saudi Arabia’s Aramco to bypass Hormuz completely.

Ethanol Blending Policy Updates

Minister of State for Petroleum and Natural Gas Suresh Gopi addressed public inquiries about E20 petrol through written Lok Sabha responses on Thursday. The government clarified that premium petrol varieties sold by state-run retailers will continue without ethanol blending. Furthermore, no plans exist to exceed the 20% ethanol blending ceiling, as reported by PTI.

The minister highlighted that proposals to reintroduce E0 or E10 petrol grades are currently absent. Instead, directives mandate both public and private fuel retailers to distribute petrol containing up to 20% ethanol nationwide under the Ethanol Blended Petrol programme. Motor spirit featuring a minimum research octane number of 95, combined with ethanol, became operational from April 1, 2026.

Premium petrol categories—specialized products with performance additives—remain distinct from ethanol blending initiatives. These encompass Indian Oil Corp’s XP100, Hindustan Petroleum’s poWer100, and Bharat Petroleum’s Speed100, as verified by the minister.

According to Suresh Gopi’s official declaration, any future determination to raise ethanol blending beyond the existing 20% threshold will necessitate thorough scientific and technical assessments together with consultations involving automobile manufacturers, oil marketing companies, and research establishments.

Jay Hatfield, chief executive officer of Infrastructure Capital Management LLC, offered additional perspective to Bloomberg: “If there’s no transportation, then you need conservation. The way you get conservation is higher prices.”

Check latest petrol and diesel price in your city on 24 July. Source: Goodreturns