Petrol and diesel prices today — 12 July: Fuel rates in Delhi, Mumbai, Bengaluru, Kolkata as Iran closes Hormuz

Petrol and diesel prices today: Fuel prices in India held steady with marginal changes on Sunday, 12 July. Even though brent crude, the international oil benchmark, witnessed significant fluctuation over the past few days due to geopolitical tensions, fuel prices remained unchanged in India.

Brent crude prices eased on Friday after the US and Iran resumed talks and markets tracked developments of West Asia war. Brent fell 0.41% to settle at $75.99per barrel. Investors continue to eye oil prices and the potential for ensuing inflation following an escalation in attacks that strained their ceasefire and deterred tanker traffic through the critical Strait of Hormuz chokepoint.

After both sides exchanged tit-for-tat strikes over the last few days, traffic in the Persian Gulf thinned and appeared to grind to a near halt on Thursday, according to ship-tracking data. On Sunday, Iran attacked a vessel which it claimed was taking an unauthorised route and announced the closure of the Strait “until further notice”. In response US launched retaliatory strikes, undermining the frugal ceasefire.

Iran calls latest strike ‘warning shots’

According to Iran's Revolutionary Guards, strike on the vessel were “warning shots” as it ignored repeated instructions to use an approved shipping corridor, Iran's state news agency IRNA reported. “Following this incident... the Strait of Hormuz will be closed until further notice and until the end of American interventions in this region and no vessels will be allowed to pass through,” Reuters quoted IRGC's statement.

US Central Command (CENTCOM) said alleged that Tehran "blatantly attacked" a Cyprus-flagged container ship transiting the Gulf Strait. In the incident, a crew member went missing and the vessel was disabled due to fire and damage to its engine room.

Confirming that US carried out third round of strikes this week, CENTCOM said on X, “In response, the United States is imposing a heavy cost by continuing to degrade Iran's ability to attack civilian mariners and commercial ships freely transiting the strait." Over Washington's recent strikes, US defense secretary Pete Hegseth said, “Iran made a poor choice. Now they pay.”

While Tehran wants to regulate shipping through the Strait, Washington demands unrestricted navigation through the waterway that controls a fifth of global oil and liquefied natural gas trade. Since state-run OMCs determine retail fuel prices in India, domestic petrol and diesel prices remain stable despite volatility in crude prices.

Check latest petrol and diesel price in your city on 12 July

‘E20 is causing problems’, claims Arvind Kejriwal

Aam Aadmi Party (AAP) national convenor Arvind Kejriwal on Saturday interacted with ordinary vehicle owners to learn about the impact of E20-blended petrol. In a post on X, he wrote, "Today, I went to a petrol pump and a service station in Delhi to understand the ground reality. The government is telling blatant lies. E20 petrol is genuinely causing problems in vehicles. Ordinary people are deeply distressed because of ethanol. Almost everyone I spoke to said their vehicles' mileage has dropped, and many have complained about mechanical issues."

This statement came after the Ministry of Petroleum and Natural Gas admitted unavailability of pure petrol, E10 and E20 at retail outlets. According to the Ministry, multiple petrol grades across India's fuel distribution network would create significant operational and logistical challenges.

Admitting that E20 may reduce fuel economy by 3-5 per cent in some vehicles, The Ministry alleged that the blend offers several other benefits including higher octane rating, improved combustion, smoother engine performance, cleaner operation and lower lifecycle carbon emissions.