Fuel prices across India's major cities held steady on June 26, marking a month since the last significant adjustments. State-owned fuel retailers have maintained petrol and diesel rates since May 25, when petrol saw a hike of ₹2.61 per litre and diesel increased by ₹2.71 per litre.
Current Fuel Prices in Key Indian Cities
- Delhi: Petrol continues to retail above Rs 100, currently at Rs 102.12 per litre. Diesel is priced at Rs 95.20 per litre.
- Mumbai: Petrol prices have crossed the Rs 110 mark, standing at Rs 111.21 per litre, with diesel at Rs 97.83 per litre.
- Hyderabad: Petrol is Rs 115.69 per litre, and diesel is Rs 103.82 per litre.
- Kolkata: Consumers pay Rs 113.51 for petrol and Rs 99.56 for diesel per litre.
- Bengaluru: Petrol is Rs 111.68 per litre, and diesel is Rs 98.80 per litre.
- Chennai: Petrol is Rs 107.76 per litre, and diesel is Rs 99.55 per litre.
Factors Influencing India's Fuel Prices
A complex interplay of global, economic, and domestic factors determines what consumers pay at the pump. The primary driver is the international price of crude oil, which serves as the base raw material for both petrol and diesel. Fluctuations in crude oil prices have the most significant impact on retail fuel rates.
Another crucial variable is the rupee-dollar exchange rate. As India heavily relies on imported crude, a weakening rupee against the dollar increases the cost of procurement, which can directly translate into higher retail fuel prices for consumers.
Furthermore, taxes levied by both the central and state governments constitute a substantial portion of the final price, explaining why petrol and diesel rates vary significantly across different states. Transportation costs and prevailing demand-supply conditions within specific regions also contribute to the retail price seen by consumers.