Fuel prices across major Indian cities remained largely stable on June 12, 2026, following a significant price hike implemented on May 25. This period of stability comes amidst continued volatility in global energy markets, influenced by the ongoing US-Iran conflict and the critical closure of the Strait of Hormuz, which has kept crude oil prices elevated, often exceeding $100 per barrel.
The May 25 revision marked the fourth increase in just two weeks, with petrol prices collectively rising by Rs 2.61 per litre and diesel by Rs 2.71 in this latest series of adjustments. Oil marketing companies have been working to recover losses accumulated over several months.
Current Fuel Prices Across Major Indian Cities (June 12, 2026)
- Delhi: Petrol ₹102.12 per litre, Diesel ₹95.20 per litre
- Mumbai: Petrol ₹111.18 per litre, Diesel ₹97.83 per litre
- Hyderabad: Petrol ₹115.69 per litre, Diesel ₹103.82 per litre
- Kolkata: Petrol ₹113.47 per litre, Diesel ₹99.82 per litre
- Bengaluru: Petrol ₹110.89 per litre, Diesel ₹98.80 per litre
- Chennai: Petrol ₹107.87 per litre, Diesel ₹99.66 per litre
Key Factors Influencing India's Fuel Prices
Retail fuel prices in India are determined by a complex interplay of global and domestic economic factors. The international price of crude oil is the primary determinant, as India heavily relies on imports for its crude requirements. Fluctuations in global crude benchmarks directly impact the base cost of petrol and diesel.
Another critical variable is the rupee-dollar exchange rate. Since crude oil purchases are typically made in US dollars, a weakening rupee makes imports more expensive, subsequently pushing up domestic fuel prices. Furthermore, significant taxes levied by both the central and state governments constitute a substantial portion of the final retail price, explaining the variations in rates across different states. Transportation costs and local demand-supply dynamics also play a role in the pump prices consumers ultimately pay.