Petrol Diesel Price Today: Oil Marketing Companies (OMCs) have released the latest petrol and diesel prices effective from 6:00 AM on July 29, 2026. Fuel prices across India continue to be determined by international crude oil prices, the rupee's exchange rate against the US dollar, refining costs, and state-level taxes. While rates remained largely unchanged in most cities, a few locations witnessed minor increases or decreases due to variations in local VAT and other levies.

Latest Petrol and Diesel Prices in Major Indian Cities

Why Fuel Prices Matter Every Day

Fuel prices affect far more than personal transportation. They play a key role in determining logistics costs, public transport fares, agricultural expenses, and the prices of everyday goods. Because of this, even small fluctuations in petrol and diesel rates can have a broader impact on household budgets and business operations.

To maintain transparency, India's Oil Marketing Companies publish revised fuel prices every morning at 6:00 AM, allowing consumers to stay informed before planning their daily travel or business activities.

Why Have Petrol and Diesel Prices Been Relatively Stable?

Despite fluctuations in global crude oil markets over the past two years, retail fuel prices in India have remained comparatively stable. One major reason is the tax reductions announced by the Central Government and several state governments after May 2022, which helped cushion the impact of rising international oil prices on consumers.

Although crude oil prices continue to move in response to geopolitical developments and global demand, domestic retail prices have witnessed only limited changes in recent months.

Factors That Influence Petrol and Diesel Prices

Several economic and market factors determine the final retail price of petrol and diesel in India.

1. International Crude Oil Prices

Petrol and diesel are refined from crude oil. Any increase or decline in global crude prices directly influences the cost of producing fuel in India.

2. Rupee-Dollar Exchange Rate

India imports a significant portion of its crude oil, with purchases made in US dollars. If the Indian rupee weakens against the dollar, the cost of imports rises, increasing fuel prices.

3. Central and State Taxes

Excise duty imposed by the Central Government and Value Added Tax (VAT) levied by individual states account for a substantial portion of fuel prices. Since VAT differs from state to state, petrol and diesel rates also vary across cities.

4. Refining and Distribution Costs

The process of refining crude oil into petrol and diesel, along with transportation and distribution expenses, contributes to the final retail price paid by consumers.

5. Demand and Supply

Seasonal demand, industrial consumption, transportation requirements, and supply conditions also influence fuel prices. During periods of higher demand, prices may experience upward pressure.

How to Check Fuel Prices via SMS

Consumers can also check the latest fuel prices on their mobile phones through SMS.

• Indian Oil (IOCL): Send RSP to 9224992249.
• BPCL: Send RSP to 9223112222.
• HPCL: Send HP Price to 9222201122.

These SMS services provide the latest petrol and diesel prices for your location within seconds.

Bottom Line

Fuel prices across India remained largely stable on July 29, 2026, with only marginal variations in select cities due to local taxes. Since petrol and diesel prices are reviewed every day based on global crude oil prices, currency movements, taxation, and operational costs, consumers are advised to check the latest rates regularly before refuelling.