Petrol and diesel prices today — 27 Aug: Check latest fuel rates in Delhi, Mumbai, Bengaluru as Brent extends losses

Petrol and diesel prices saw revisions across major Indian cities on Thursday, with Brent crude extending losses due to the ongoing West Asia conflict. In Chennai, petrol prices rose by ₹9.85, while diesel prices increased by ₹12.68 in Chandigarh. The fuel price adjustments come amid a global energy crisis triggered by the conflict between Iran and the West.

Oil Marketing Companies last revised prices on May 25, and dynamic fuel pricing means rates change daily at 6:00 AM. Oil prices fell for four consecutive days, with Brent crude futures dropping 0.7% to around $87.24 a barrel, and West Texas Intermediate crude futures declining 0.7% to $81.67. Despite US efforts to pressure Iran, investor sentiment remained optimistic due to Iran-Oman talks.

Iran's Revolutionary Guards confirmed an agreement on sharing the Strait of Hormuz, which connects Gulf oil producers to global markets. Analysts are cautiously optimistic about a potential ceasefire, but the situation remains uncertain as tensions with Russia and Ukraine loom.