Crude Oil Price Today: Crude oil at $111 today from 4 years high level of $126, check petrol and diesel prices?

Business Desk – Crude Oil Price Today: The trend of increase in crude oil prices continued on Friday, May 1, 2026. However, compared to yesterday the prices have fallen significantly. On April 30, 2026, Brent crude oil prices hit a record of $120 per barrel, four years after the previous benchmark of 2022. Reached a high of $126 per barrel.

Today the price of Brent crude has fallen to $111.813 per barrel, while WTI crude is at $105.797 per barrel. So, are the predictions of many market experts going to come true? Can oil prices cross the $150 per barrel mark? How much did the prices of petrol and diesel change today?

Will crude oil cross $150?

Looking at the situation developing in the Middle East, many market analysts have suggested that if the tension between the United States and Iran continues for a long time, then a huge jump in prices may be seen. Crude oil rates could potentially reach $150 per barrel or even higher.

JP Morgan, Citigroup, Nuvama Institutional Equities, DBS Bank and Goldman Sachs all forecast that if tensions persist, crude oil prices could reach the $120 to $150 per barrel range. In other words, if this geopolitical tension drags on further, there is a strong possibility of a huge surge in crude oil prices.

Series of threats continue between America and Iran

The United States has said it will not lift the blockade on the Strait of Hormuz until Iran gives up its pursuit of nuclear weapons and accepts America’s demands.

Additionally, just yesterday reports emerged indicating that the United States is preparing to launch a limited yet significant military strike against Iran. In response, Iran has issued a retaliatory threat, warning that if America carries out such an attack, it is fully prepared to retaliate.

oil and gas supply

The closure of major sea waterways has had a serious impact on the global supply of oil and gas. Import and export of various goods have come to a standstill, due to which both traders and farmers are facing problems. The general public is also worried about the possibility of increase in the prices of petrol and diesel,

However, the Union Petroleum Ministry has put an end to the rumors that the Indian Government may increase the prices of petrol and diesel after the elections in some states. The central government has clarified that the government has no such plan.

Petrol and diesel prices today

There was not much change in the prices of petrol and diesel in major cities of the country today, but due to the tax structure in different states, there is a difference in the prices. In the capital New Delhi, petrol is being sold at Rs 94.77 per liter and diesel at Rs 87.67 per liter. Whereas in Noida, the price of petrol has been recorded at Rs 94.74 and diesel at Rs 87.81 per liter.

In Gurugram (Gurgaon), petrol is available at Rs 95.85 and diesel at Rs 88.30 per liter. The price of petrol in the country’s financial capital Mumbai remains relatively high and is trading above Rs 100, while diesel is around Rs 90.03 per liter.

Talking about the cities of South India, petrol is being sold at Rs 102.92 per liter and diesel at Rs 90.99 per liter in Bengaluru. In Chennai, petrol has been recorded at Rs 101.23 and diesel at Rs 92.81 per litre. Whereas in Kolkata, petrol is priced at Rs 105.45 and diesel at Rs 92.02 per litre, while the most expensive prices are seen in Hyderabad, where petrol has reached Rs 107.46 and diesel at Rs 95.70 per litre.