Petrol and diesel prices across India remained unchanged on July 31, 2026, despite recent fluctuations in global crude oil markets. Although international crude prices have eased from last week's highs, Indian consumers are still waiting to see whether the decline will translate into lower retail fuel prices in the coming weeks.

Global oil markets have remained volatile amid geopolitical developments in the Middle East, particularly the ongoing tensions involving the United States and Iran. While improving diplomatic signals have helped cool crude oil prices slightly, domestic fuel prices continue to remain stable as oil marketing companies have not announced any revisions since May.

Here's a detailed look at today's fuel prices, the latest crude oil trends, and why petrol and diesel rates in India may not fall immediately.

Crude Oil Prices Ease in the International Market

On July 30, international crude oil prices witnessed a modest decline.

• Brent crude traded between $91.80 and $92.50 per barrel.
• Prices remained below last week's peak of $100.69 per barrel.
• Improved diplomatic engagement between the US and Iran supported market sentiment.
• Expectations that commercial shipping through the Strait of Hormuz will continue without major disruptions also helped reduce supply concerns.

The easing in crude prices has raised hopes that fuel prices could soften in the coming weeks if global trends remain favourable.

Why Petrol and Diesel Prices Have Not Changed

Despite the decline in international crude oil prices, retail fuel prices in India have remained unchanged since May.

This is because the price consumers pay at petrol pumps depends on several factors beyond crude oil prices.

These include:

• International crude oil prices.
• Exchange rate between the Indian Rupee and the US Dollar.
• Central and state government taxes.
• Refining and transportation costs.
• Marketing margins of oil companies.
• Domestic demand for petroleum products.

As a result, a fall in global crude oil prices does not automatically lead to an immediate reduction in petrol and diesel prices across the country.

Petrol and Diesel Prices in Major Indian Cities

Here are the latest fuel prices in key cities:

Fuel prices continue to vary across cities due to differences in local taxes, transportation costs, and state-specific VAT rates.

Where Is Petrol the Cheapest in India?

The lowest petrol prices in India continue to be recorded in the Andaman and Nicobar Islands.

Current rates are:

• Petrol: ₹82.46 per litre
• Diesel: ₹78.05 per litre

The significantly lower prices are mainly due to the Union Territory's 1% Value Added Tax (VAT) on petroleum products, which is considerably lower than that of most states.

Other regions with comparatively lower petrol prices include:

States with the Highest Petrol Prices

Some parts of Andhra Pradesh and Telangana continue to record among the highest petrol prices in the country, with retail rates reaching approximately ₹117.78 per litre.

Higher state taxes and local levies remain the primary reasons for the elevated fuel prices in these regions.

What to Expect Going Forward?

Market analysts believe that the recent decline in global crude oil prices is a positive development. However, any reduction in domestic petrol and diesel prices will depend on multiple economic and policy factors, including crude oil stability, exchange rates, taxation, and pricing decisions by oil marketing companies.

For now, motorists across India will continue to pay existing rates, while keeping a close watch on global oil markets for signs of further easing that could eventually benefit retail consumers.

Those planning long-distance travel or managing transportation costs should continue checking daily fuel price updates, as even small revisions can impact overall expenses over time.