Petrol, diesel prices on August 14 — Check fuel refill cost in Delhi, Mumbai, Kolkata, Bengaluru today

Petrol and diesel prices today, August 14: Fuel rates in India remained unchanged on Friday even as Brent crude, the international oil benchmark, extended its decline. There was little to no change in petrol and diesel refill cost in cities like New Delhi, Bengaluru, Mumbai, Pune, among others.

Traders continued to monitor efforts toward a possible deal that could reopen the Strait of Hormuz, while fresh attacks on tankers and energy infrastructure kept the market on edge, Bloomberg reported early Friday.

Brent was trading near $87 a barrel after falling 2.2% in the previous session, while West Texas Intermediate stood at around $81. Iran and Oman have yet to reach an agreement to reopen the critical waterway, after optimism earlier this week that a deal was close.

Retail petrol and diesel prices continue to align with OMCs last major price revision implemented nearly three months ago, on 25 May. State-run fuel retailers continue to shield consumers from volatility in oil prices.

Check latest petrol, diesel price in your city on Aug 14

Who is responsible for fuel pricing?

The three major OMCs responsible for fuel pricing and distribution in India are Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).

Retail fuel prices in the country are based on several factors, including the price of crude oil in international markets, the rupee-dollar exchange rate, and taxes imposed by the central and state governments.

Petrol and diesel prices are revised every day at 6 AM. This practice helps OMCs to keep domestic fuel prices aligned with international crude oil prices and currency exchange rates.

Oil rates remain high

Oil futures are still headed for a weekly gain and have risen more than 40% so far this year, as the Iran war that began in late February drags on.

The International Energy Agency this week forecast a deeper supply shortfall this quarter, and sees the deficit in 2026 expanding to the widest in five years. according to a Bloomberg report.

US could keep naval blockade on Iran ‘indefinitely’

The United States on Thursday said that it could maintain a naval blockade of Iran indefinitely and would intensity economic pressure on Tehran as ceasefire talks have stalled, global oil supplies have tightened and regional tensions are rising.

Defense Secretary Pete Hegseth told reporters that the US military has the capability to sustain a naval presence in the region to enforce its blockade of Iran, which has already caused significant economic damage to the country, Reuters said in a news report.

"Indefinitely the United States Navy can maintain a blockade like that because we'll rotate ships in and out, as we have, and we'll continue to," Hegseth told reporters during a trip to Panama.

Treasury Secretary Scott Bessent said on Thursday that the United States planned to inflict more financial damage on Iran.