Petrol and diesel prices today — Aug 16: Latest fuel rates in Delhi, Mumbai, Bengaluru amid US-Iran deadlock on Hormuz
Petrol and diesel prices today, 16 August: Fuel rates remained stable across major Indian cities on Sunday. Check rates in Delhi, Kolkata, Mumbai, Chennai, Bengaluru and other cities.
Petrol and diesel prices remained unchanged across major Indian cities on Sunday, August 16, 2021, despite a rise in crude oil prices. The global benchmark Brent crude oil increased by 1.67% to $88.52 per barrel on Friday, marking a 6% rise this week due to the deadlock in US-Iran peace talks over the Strait of Hormuz. Tensions escalated when US President Donald Trump warned Iran of economic consequences, calling the US blockade of Iranian ports a "wall of steel."
Iranian Foreign Minister Abbas Araghchi claimed that an agreement with Oman does not guarantee the reopening of the strait, stating that negotiations were not yet concluded. The central government recently revised export levies on petroleum products and reduced windfall taxes on petrol, diesel, and aviation turbine fuel exports, taking effect on Saturday. These changes were part of a fortnightly review of export levies on petroleum products.
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Also reported by 1 other outlet
- Oil largely unchanged as US-Iran peace talks stall, Hormuz shipping slows businesstimes.com.sg
