Crude oil prices declined for the sixth consecutive day on Friday, August 28, with global benchmarks slipping near USD 83 per barrel even as petrol and diesel rates remained unchanged across Indian cities on Raksha Bandhan. Brent crude traded at USD 88 per barrel, and international markets have seen crude prices surge 30 percent over the past year despite the recent slide.
Petrol Prices Across Major Cities on August 28
Oil marketing companies did not revise fuel rates on Friday. Petrol was priced at Rs 102.12 per litre in Delhi, Rs 111.18 in Mumbai, Rs 113.47 in Kolkata, Rs 107.77 in Chennai, Rs 98.10 in Chandigarh, and Rs 115.69 in Hyderabad. Other cities recorded rates such as Rs 110.93 in Bengaluru, Rs 112.66 in Jaipur, Rs 102.05 in Lucknow, and Rs 113.35 in Patna.
Diesel Rates Hold Steady Across Major Cities
Diesel prices also remained unchanged on Friday. A litre of diesel cost Rs 95.20 in Delhi, Rs 97.83 in Mumbai, Rs 99.82 in Kolkata, Rs 99.55 in Chennai, Rs 86.09 in Chandigarh, and Rs 103.82 in Hyderabad. Bengaluru recorded diesel at Rs 98.80 per litre while Bhubaneswar touched Rs 100.92 per litre.
Last Price Hike Was in May After Three-Year Freeze
The last fuel price revision happened in May 2026, when oil marketing companies raised petrol and diesel rates four times between May 15 and May 25. Prices have remained stable since May 25. This was the first hike since 2022, triggered by the Iran-US-Israel conflict that pushed crude oil above USD 100 per barrel. Oil companies were losing up to Rs 1,000 crore daily during that period. The central government also reduced taxes on petrol and diesel to help ease the burden on fuel retailers.
