Fuel Prices Remain Stable Amid Crude Oil Weekly Gain

The price of fuel in India remained largely unchanged across major cities on August 22, despite crude oil reaching a weekly gain of 6.39%. The price of petrol and diesel varied slightly from city to city, with New Delhi seeing a price of ₹102.12 for petrol and ₹95.20 for diesel.

The global market saw Brent futures rise by 6.39% this week due to threats of US sanctions on Iran. This led to an increase in the price of crude oil, but Indian fuel retailers have continued to insulate customers from global oil price volatility.

US President Donald Trump claimed that Iran wants an agreement with the United States but is unprepared to accept terms he considers necessary. China has pushed back against US threats, stating that sanctions do not fit in their interest.