By Admin 
- Brent crude crosses $95 due to increasing US-Iran tension.
- Indian oil companies are still incurring huge losses.
- There was no change in fuel prices today, June 4.
Petrol-Diesel Rate Today on June 4: Military tension between America and Iran has increased again. In such a situation, there is still uncertainty regarding the peace agreement between the two countries. This uncertainty is putting pressure on the Asian stock markets, and the rate of Brent crude is also rising.
According to the latest market data, Brent crude remains above $95. In such a situation, there is suspense over whether there will be another increase in the prices of petrol and diesel in India.
Oil companies still in loss
Earlier on Monday, Moneycontrol had told in its report that analysts say that oil marketing companies may have to increase the fuel rate by another Rs 12 to compensate for the loss.
According to analysts, despite four consecutive hikes in petrol and diesel prices last month, government oil marketing companies (OMCs) are still incurring marketing losses of about Rs 5.5 per liter on petrol and Rs 4.5 per liter on diesel.
He estimates that global crude oil prices are increasing due to the increasing conflict in West Asia. According to government data, the three state-owned oil companies – Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation – together are still incurring losses of around Rs 550 crore every day. This is happening because they are buying crude oil at higher prices in the international market, while selling petrol and diesel at fixed prices within the country.
Today’s price of petrol and diesel
There is no visible change in the prices of petrol and diesel in the country on Thursday, June 4. According to the rates released at 6 am today, fuel prices in the country have remained completely stable.
| City | Petrol price (per litre) | Diesel price (per litre) |
| Delhi | Rs 102.12 | Rs 95.20 |
| Mumbai | Rs 111.18 | Rs 97.83 |
| Kolkata | Rs 113.47 | Rs 99.82 |
| Chennai | Rs 107.77 | Rs 99.55 |
| Bengaluru | Rs 110.93 | Rs 98.80 |
| Bhopal | Rs 114.54 | Rs 99.64 |
| Bhubaneswar | Rs 108.98 | Rs 100.71 |
| Chandigarh | Rs 101.51 | Rs 89.47 |
| Dehradun | Rs 100.54 | Rs 96.00 |
Crude oil price is increasing again
According to a Bloomberg report on June 3, oil prices rose for the third consecutive day due to the breakdown in peace talks between the US and Iran and Israel’s attacks on Lebanon. The report also said that the price of Brent crude reached near $97 per barrel, while the price of West Texas Intermediate crude jumped more than 7% in the first two sessions of the week to reach near $95.
The report also said that US President Donald Trump is still hopeful about a peace deal with Iran and rejected reports of talks stalling due to Israeli air strikes in Lebanon. However, the report also said that due to lack of clarity on extending the current ceasefire and opening of the Strait of Hormuz, oil prices have surged again. Oil prices fell in May due to optimism about the agreement.
Also read:
Gold News: Did RBI sell gold worth $12 billion? PIB’s statement came on the report, know what it said