Petrol and diesel prices today, September 26: Consumers saw no change in retail fuel prices on Saturday, September 26, as state-run oil marketing companies () kept rates steady following their 6:00 AM daily revision.
The domestic pause offers a brief respite at the pumps and coincides with a major slump in international crude markets, where oil is currently heading for its longest losing streak in a year.
Across major metros, fuel rates held their ground. In , the retail price of petrol stood at ₹111.21 per litre, remaining unchanged from the previous day. Over the past few days, the fuel rate in the financial capital has seen minimal movement, fluctuating marginally between ₹111.18 and ₹111.21.
Oil fell on tentative signs that talks between the US and Iran to reopen the world’s most important energy shipping route were progressing.
West Texas Intermediate futures fell about 2.3% to settle near $92 a barrel, according to a Bloomberg report, notching its first weekly drop since late August as traders increasingly expect the negotiations will be productive.
It’s been yo-yoing on uncertainty about when the war with Iran will allow oil to flow freely again from the Middle East. Prices go down when hopes rise for a possible deal to fully reopen the to oil tankers, and they go up when doubts resurface.
and halt regional fighting within seven days, and told aides he expects to resume bombing after the November congressional elections, the Wall Street Journal reported on Friday, citing unnamed US officials.
Iran’s Foreign Minister Abbas Araqchi told reporters at the United Nations on Friday that Iran conveyed its peace plan to the US through Qatari mediators, adding that a deal would trigger a seven-day countdown to reopening the strait and a pause in regional fighting.
“If there is seriousness on the US side to come to a deal and reopen the Strait of Hormuz, everything is now prepared,” Araqchi said.
A US official had told Reuters that the US and Iran were having “positive and constructive discussions through the mediators,” but Trump was privately sceptical that Iran would meet his demands, the Journal report said.
He has told his staff that he sees a renewed bombing campaign as likely, the Journal said.
(With agency inputs)
