Fuel prices across India's major cities saw little change on August 14, 2026. This stability comes despite recent fluctuations in international oil markets, which had settled lower last week amidst hopes for resumed shipping via the Strait of Hormuz after the latest US-Iran developments. State-owned Oil Marketing Companies (OMCs) last adjusted prices significantly on May 25, when petrol increased by ₹2.61 per litre and diesel by ₹2.71 per litre.
In the capital, Delhi, petrol continues to retail at ₹102.12 per litre, with diesel priced at ₹95.20 per litre. Mumbai residents are still paying above the ₹110 mark for petrol, which stands at ₹111.21 per litre, while diesel is ₹99.82 per litre.
Current Fuel Rates in Key Indian Cities (August 14)
- Delhi: Petrol ₹102.12/litre, Diesel ₹95.20/litre
- Mumbai: Petrol ₹111.21/litre, Diesel ₹99.82/litre
- Hyderabad: Petrol ₹115.43/litre, Diesel ₹103.58/litre
- Kolkata: Petrol ₹113.51/litre, Diesel ₹99.82/litre
- Bengaluru: Petrol ₹111.68/litre, Diesel ₹99.56/litre
- Chennai: Petrol ₹107.77/litre, Diesel ₹99.55/litre
Other major metropolitan areas like Bengaluru, Hyderabad, and Kolkata also recorded petrol prices exceeding ₹110 per litre. Diesel rates in these cities generally remained below ₹100, with the exception of Hyderabad, where it was priced at ₹103.58.
Factors Influencing India's Fuel Prices
The retail cost of petrol and diesel in India is shaped by a complex interplay of global, economic, and domestic elements:
- International Crude Oil Prices: As the primary raw material, global crude oil rates have the most significant impact on what consumers ultimately pay at the pump.
- Rupee-Dollar Exchange Rate: India heavily relies on imported crude. A weaker rupee against the US dollar increases the cost of procurement, which can directly lead to higher retail fuel prices.
- Government Taxes: Both the central and state governments levy various taxes, which constitute a substantial portion of the final price. This is a key reason why fuel rates differ significantly across different states and cities.
- Transportation Costs: The expenses involved in transporting fuel from refineries to distribution points and then to retail outlets also factor into the final consumer price.
- Demand and Supply Conditions: Local and regional demand-supply dynamics can also play a role in minor price variations.