Petrol and Diesel Rates Released: City‑wise Listings Amid Ongoing West Asia Tension
Crude prices have been highly volatile in recent days due to ongoing conflict, will petrol, diesel prices be hiked? Check city‑wise rate list
Petrol, Diesel Prices on the latest update: Petrol and diesel rates in India remained unchanged on the most recent revision, even though global oil markets continue to experience sharp volatility amid geopolitical tensions in West Asia. Oil marketing companies update fuel prices daily at six a.m., aligning them with movements in global crude oil prices and currency exchange rates. The daily revision mechanism is designed to promote transparency and ensure consumers receive the most up‑to‑date information on retail fuel prices.
Petrol, Diesel Prices on the latest update: Despite fluctuations in international oil markets, the Indian government has indicated that petrol and diesel rates are expected to remain stable for now, with oil marketing companies absorbing part of the volatility to avoid sudden price shocks for consumers.
Global oil volatility amid Middle East tensions
Global crude prices have been highly volatile in recent days because of the ongoing conflict in the Middle East involving Iran, Israel and the United States. The crisis has raised concerns about potential disruptions to oil shipments through the Strait of Hormuz, a critical energy chokepoint through which nearly twenty percent of global oil supply passes.
Brent crude briefly surged above one hundred fifteen dollars per barrel earlier in the week before easing after signs of possible de‑escalation. The spike in oil prices has heightened fears of a global energy shock and rising inflation in several economies.
Despite the turbulence in global energy markets, Indian authorities have signalled that retail petrol and diesel rates will remain steady in the near term, providing relief to consumers and helping contain inflationary pressures.
Petrol, Diesel Price Today in India
Below is a city‑wise snapshot of petrol and diesel rates across major Indian metropolises on the most recent revision:
- Delhi – Petrol: Rs 97.45 per litre, Diesel: Rs 84.25 per litre
- Mumbai – Petrol: Rs 106.15 per litre, Diesel: Rs 92.90 per litre
- Kolkata – Petrol: Rs 96.90 per litre, Diesel: Rs 84.75 per litre
- Bengaluru – Petrol: Rs 107.55 per litre, Diesel: Rs 94.20 per litre
- Chennai – Petrol: Rs 99.00 per litre, Diesel: Rs 86.50 per litre
These figures reflect the latest data supplied by oil marketing companies.
Why fuel prices differ across cities
Petrol and diesel rates in India have remained unchanged since May 2022, following tax reductions by the central government and several state governments.
Although fuel rates are technically linked to global crude oil prices, they are also influenced by multiple regulatory and economic factors, including taxes and exchange rates.
Petrol Price Hike: Premium Petrol Prices Increased
On the most recent revision, the price of IndianOil’s XP100 petrol – India’s first one hundred octane premium fuel – was raised sharply by eleven rupees per litre to one hundred sixty rupees, up from one hundred forty‑nine rupees earlier. The high‑performance fuel is primarily used in luxury cars and superbikes, where higher octane levels help improve engine efficiency and performance.
Premium diesel variant Xtra Green has also seen a price revision. Xtra Green will now retail at ninety‑two point nine nine rupees per litre, up from ninety‑one point four nine rupees earlier.
After Nyara, Shell Raises Petrol Prices By Rs 7.41, Diesel By Rs 25.01
Private fuel retailers have begun raising rates, with Shell India increasing petrol and diesel rates on the most recent revision after a similar move by Nayara Energy, as elevated crude oil prices put pressure on margins.
In Bengaluru, petrol rates have gone up by seven rupees point four one per litre. The standard variant is now priced at one hundred nineteen point eight five rupees per litre, while the Power variant costs one hundred twenty‑nine point eight five rupees per litre. Rates may differ across cities due to local taxes.
Diesel rates have seen a much sharper increase, rising by twenty‑five rupees point zero one per litre. The regular variant now sells at one hundred twenty‑three point five two rupees per litre, while the premium variant is priced at one hundred thirty‑three point five two rupees per litre.
Petrol Price Hike: Will Regular Fuel Prices Be Hiked Next?
The big question now is whether regular petrol and diesel rates will also see a hike in the coming days. For now, oil companies appear to be avoiding any increase in widely used fuels because of inflation concerns. However, with global crude oil rates rising sharply and the rupee weakening, pressure on companies such as BPCL, HPCL and IOCL is steadily building.
If international oil rates remain elevated for a prolonged period, oil companies may find it difficult to absorb the losses, and revising regular fuel rates is increasingly likely.
Key factors influencing fuel prices in India include:
Crude oil prices: Global crude oil prices are the primary driver of petrol and diesel rates because crude oil is the key raw material used to produce these fuels.
Exchange rate: India imports a significant portion of its crude oil. Therefore, the value of the Indian rupee against the US dollar plays an important role in determining fuel rates. A weaker rupee generally increases import costs.
Taxes: A large portion of the retail price of petrol and diesel consists of central excise duty and state‑level VAT, which vary across states and lead to differences in fuel rates between cities.
Refining costs: The cost of converting crude oil into petrol and diesel also affects retail rates. These costs depend on refinery efficiency and the type of crude oil used.
Demand and supply dynamics: Changes in fuel demand and supply conditions can also influence pricing trends in domestic markets.
How to check petrol and diesel prices via SMS
Consumers can also check the latest fuel rates in their city through SMS.
- IndianOil customers: Send the city code followed by RSP to 9224992249
- BPCL customers: Send RSP to 9223112222
- HPCL customers: Send HP Price to 9222201122
These services allow users to quickly access the latest petrol and diesel rates without visiting fuel stations.
