Indian consumers saw little change in petrol and diesel prices on July 12, 2026, as rates across major cities held steady. This stability follows a period of unchanged prices since May 25, when state-owned Oil Marketing Companies (OMCs) last adjusted rates.
Current Fuel Prices in Major Indian Cities (July 12)
- Delhi: Petrol at ₹102.12 per litre, Diesel at ₹95.20 per litre.
- Mumbai: Petrol at ₹111.21 per litre, Diesel at ₹97.83 per litre.
- Chennai: Petrol at ₹107.76 per litre, Diesel at ₹99.55 per litre.
- Kolkata: Petrol at ₹113.51 per litre, Diesel at ₹99.82 per litre.
- Bengaluru: Petrol at ₹111.68 per litre, Diesel at ₹99.56 per litre.
- Hyderabad: Petrol at ₹115.69 per litre, Diesel at ₹103.82 per litre.
Globally, oil prices settled lower recently, with Brent crude futures at $76.01 per barrel. This dip occurred amid hopes for resumed shipping via the Strait of Hormuz, following a US-Iran conflict. This current price is significantly below the late-April peak of over $120 per barrel.
While most OMCs maintained prices, Nayara Energy, a Rosneft-backed private fuel retailer, recently announced a reduction in its network. Last week, Nayara Energy lowered petrol prices by ₹5 per litre and diesel prices by ₹3 per litre across its nearly 7,000 fuel stations nationwide.
Factors Influencing Petrol and Diesel Prices in India
Several critical factors combine to determine the final retail price of petrol and diesel at the pump:
- International Crude Oil Prices: As India heavily relies on imported crude, global oil rates are the most significant determinant.
- Rupee-Dollar Exchange Rate: A weaker rupee makes crude imports more expensive, directly impacting domestic fuel costs.
- Central and State Taxes: Both central excise duty and state-level Value Added Tax (VAT) constitute a substantial portion of the final price, leading to price variations across different states.
- Transportation Costs: The cost of transporting fuel from refineries to distribution points also adds to the retail price.
- Demand and Supply: Local market conditions and prevailing demand-supply dynamics can also influence pricing.