Petrol and diesel prices today, September 30: Indian consumers saw no change in retail fuel prices on Wednesday, September 30, as state-run oil marketing companies (OMCs) kept rates steady following their 6:00 AM daily revision.
Across major metros, fuel rates held their ground.
In Mumbai, 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 as top exporter Saudi Arabia boosted flows through a key pipeline, overshadowing concerns over a US-Iran stalemate.
Brent futures slid to settle below $103 a barrel. The kingdom was said to have restored about half the capacity of its East-West pipeline following drone attacks. The conduit has been a crucial route bypassing the Strait of Hormuz, providing a lifeline to global markets as the world’s most important energy chokepoint was disrupted by the Middle East conflict.
While the nearest Brent contract remains in the triple digits, it’s just a day away from expiry on Wednesday, and the more active December futures settled near $96. The retreat follows a month when markets for real-world barrels were rocked into upheaval, with key gauges signaling a clamor for immediate delivery as freight costs soared, while fuel prices surged as global refinery capacity remains hobbled.
Crude is headed for a third monthly gain following the US war on Iran, disruptions to the Saudi bypass route and potential diesel export curbs by Washington, with the global benchmark up about 70% this year.
OPEC Likely to Stick With Plan for Steady Quotas, Delegates Say
Key OPEC members are likely to stick with a plan to hold crude production quotas steady for next month when they meet this weekend, according to two delegates.
Nations led by Saudi Arabia and Russia — having nominally completed the reversal of supply cuts made in 2023 — will probably ratify their existing roadmap to keep targets unchanged in November, the delegates said. They asked not to be identified discussing internal matters ahead of a video conference on Sunday.
