Fuel prices across major Indian cities, including Delhi, Mumbai, Chennai, and Kolkata, showed little change on July 31, 2026, maintaining a consistent trend since late May. State-owned Oil Marketing Companies (OMCs) have kept rates largely stable, despite fluctuations in global crude oil markets.
Current Fuel Prices in Key Indian Cities (July 31)
As of July 31, petrol and diesel rates in prominent metropolitan areas are as follows:
- Delhi: Petrol is priced at ₹102.12 per litre, with diesel at ₹95.20 per litre.
- Mumbai: Residents pay ₹111.21 for petrol and ₹99.82 for diesel per litre.
- Hyderabad: Petrol stands at ₹115.73 per litre, and diesel at ₹103.82 per litre.
- Kolkata: Petrol is available at ₹113.51 per litre, while diesel costs ₹99.82 per litre.
- Bengaluru: Petrol is ₹110.93 per litre, and diesel is ₹98.80 per litre.
- Chennai: Petrol is priced at ₹107.78 per litre, with diesel at ₹99.56 per litre.
Notably, petrol prices in Bengaluru, Hyderabad, and Kolkata remain above ₹110 per litre. Diesel prices are generally below ₹100 per litre in these cities, with the exception of Hyderabad.
Factors Influencing India's Fuel Prices
The retail price of petrol and diesel in India is determined by a complex interplay of international, economic, and domestic factors. Understanding these components helps explain why prices can vary and why they differ across states.
Global Crude Oil Prices
The most significant factor influencing fuel costs is the international price of crude oil. India is a major importer of crude, meaning global market dynamics directly impact the base cost of refined fuels. When international crude prices rise, so too does the cost for OMCs to procure it, which is then passed on to consumers.
Rupee-Dollar Exchange Rate
Given that crude oil is typically traded in US dollars, the exchange rate between the Indian Rupee and the US Dollar plays a crucial role. A weakening Rupee makes crude imports more expensive in local currency terms, further contributing to higher retail fuel prices.
Central and State Taxes
A substantial portion of the final price consumers pay at the pump consists of taxes levied by both the central and state governments. These taxes, which include excise duty and Value Added Tax (VAT), vary significantly from one state to another, explaining the price disparities seen across different Indian cities.
Other Domestic Factors
Additional elements like transportation costs from refineries to retail outlets, dealer commissions, and local demand-supply conditions also contribute to the final retail price. These localized factors further explain the regional variations in petrol and diesel rates.
Fuel prices have largely maintained their current levels since May 25, when OMCs last adjusted rates, increasing petrol by ₹2.61 per litre and diesel by ₹2.71 per litre. This stability provides some relief to consumers amidst ongoing economic considerations.