Petrol Diesel Price Today: From Delhi to Hyderabad, know how expensive petrol and diesel is in your city today.

Petrol Diesel Price Today: Despite improvement in Brent crude prices, fuel prices in India remained mostly stable on Tuesday. Oil prices are now at their highest level since the signing of the agreement to reduce tensions between the US and Iran on June 17. International oil prices fluctuated due to renewed hostilities and rising tensions in West Asia, but fuel prices in India remained stable as they are decided by state-run oil companies (OMCs).

Oil prices have increased

On July 14, oil prices increased by 2%, the highest in four weeks. The fluctuations in the price of Brent, the international benchmark, come after counter-attacks between rival parties, increasing uncertainty over energy supplies. The blockage of the Strait of Hormuz trade route after the US resumed naval blockade has created a new risk in the market.

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What do experts predict about future prices?

“They were sending oil out at unbelievable rates,” said Jay Hatfield, CEO of Infrastructure Capital Management, Bloomberg reported. He added, “We think we will remain around the $80 level, unless there is any movement on the strait. But I do not think we will go to $90 or $100. And if the strait opens again, we will get to $60 very quickly.”

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