{"id":228389,"date":"2026-09-02T17:02:35","date_gmt":"2026-09-02T11:32:35","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=228389"},"modified":"2026-09-02T17:02:37","modified_gmt":"2026-09-02T11:32:37","slug":"petrol-diesel-price-hike-omc-crude-oil-2026-09-02","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/petrol-diesel-price-hike-omc-crude-oil-2026-09-02\/","title":{"rendered":"Petrol Diesel Price Hike Unlikely for Now as OMCs Say They Can Absorb $85-90 Crude Oil"},"content":{"rendered":"
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Brent crude around $94.86-95 a barrel on 2 Sep, up sharply after US strikes near Strait of Hormuz. OMCs can absorb $85-90 crude. Sustained crude above $95-100 could prompt a pump price review.<\/em><\/p>\n

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A petrol diesel price hike is not currently being considered, according to sources familiar with the matter, as oil marketing companies say they can comfortably absorb crude oil in the 85 to 90 dollar per barrel range without passing on costs to consumers. However, a sustained rise in crude prices above 95 to 100 dollars a barrel could force a rethink on retail fuel prices. Brent crude was trading close to 95 dollars a barrel on 2 September 2026, its highest level in nearly six weeks, after fresh US military action near the Strait of Hormuz escalated tensions with Iran. The gap between the current crude band and the trigger level for a potential petrol diesel price hike is narrowing.<\/p>\n<\/div>\n

A petrol diesel price hike is not on the immediate agenda, according to sources close to the matter, even as crude oil prices have climbed sharply over the past week. Oil marketing companies are said to be comfortable absorbing crude in the 85 to 90 dollar per barrel range without adjusting retail fuel prices.<\/p>\n

That comfort zone easing a petrol diesel price hike risk is now being tested. Brent crude touched around 95 dollars a barrel on 2 September 2026, its highest level in close to six weeks, after the United States launched fresh military strikes on Iranian targets near the Strait of Hormuz following attacks on oil tankers in the shipping corridor.<\/p>\n

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