On August 24, 2026, petrol and diesel prices across India held steady for another day. State-owned Oil Marketing Companies (OMCs) have maintained consistent rates since May 25, when they last adjusted prices, increasing petrol by ₹2.61 per litre and diesel by ₹2.71 per litre. This stability comes despite recent fluctuations in global crude oil prices, which settled lower last week amidst hopes for resumed shipping via the Strait of Hormuz following US-Iran discussions.
Major metropolitan areas continued to report familiar price points. In Delhi, petrol is retailing at ₹102.12 per litre, with diesel at ₹95.20 per litre. Mumbai residents are paying ₹111.21 for petrol and ₹99.82 for diesel. Other significant cities also show similar trends, with petrol generally above the ₹110 mark and diesel below ₹100, except in Hyderabad.
Current Fuel Prices in Key Indian Cities (August 24, 2026)
- Delhi: Petrol ₹102.12/litre, Diesel ₹95.20/litre
- Mumbai: Petrol ₹111.21/litre, Diesel ₹99.82/litre
- Hyderabad: Petrol ₹115.69/litre, Diesel ₹103.82/litre
- Kolkata: Petrol ₹113.51/litre, Diesel ₹99.82/litre
- Bengaluru: Petrol ₹111.68/litre, Diesel ₹98.56/litre
- Chennai: Petrol ₹107.76/litre, Diesel ₹99.55/litre
These rates reflect a complex interplay of factors influencing fuel costs in India. The primary driver remains the international price of crude oil, which forms the base cost of both petrol and diesel. As India is a net importer of crude, the rupee-dollar exchange rate also plays a crucial role; a weaker rupee increases import costs, potentially leading to higher retail prices.
Understanding India's Fuel Price Dynamics
Beyond global market forces, domestic taxes significantly contribute to the final price consumers pay. Both central and state governments levy various taxes, which explain the price disparities observed across different states and cities. Additionally, transportation costs from refineries to retail outlets and local demand-supply conditions further factor into the daily retail fuel prices.