Petrol Diesel Price Today (July 12, 2026): India's state-owned Oil Marketing Companies (OMCs) have released the latest petrol and diesel prices effective from 6:00 AM on July 12. While fuel prices remained largely unchanged across most parts of the country, slight variations were recorded in some cities due to differences in state taxes and local levies.

Fuel prices in India are revised daily based on international crude oil prices, the rupee's exchange rate against the US dollar, refining costs, and applicable central and state taxes.

Here's a detailed look at today's petrol and diesel prices across major Indian cities.

Latest Petrol and Diesel Prices

The following are the retail fuel prices for July 12, 2026:

Retail prices may vary slightly depending on local taxes and dealer charges.

Why Fuel Prices Differ Across Cities

Although Oil Marketing Companies revise fuel prices every day, retail rates vary from one city to another due to differences in state-level taxation and other local charges.

Major factors influencing petrol and diesel prices include:

• State Value Added Tax (VAT)

• Freight and transportation costs

• Dealer commissions

• Local municipal taxes

As a result, consumers in different states may pay different prices even when the base fuel cost remains the same.

Why Have Fuel Prices Been Relatively Stable?

Petrol and diesel prices have remained comparatively stable since May 2022, following reductions in fuel taxes by the central government and several state governments.

Although global crude oil prices continue to fluctuate, domestic retail prices have not experienced significant day-to-day changes in recent months.

Market analysts note that government tax policies and pricing strategies have helped cushion consumers from sharp international price swings.

What Determines Petrol and Diesel Prices?

Several domestic and global factors influence fuel prices in India.

International Crude Oil Prices

Crude oil is the primary raw material used to produce petrol and diesel. Changes in global crude oil prices directly affect fuel production costs.

Rupee-Dollar Exchange Rate

India imports a significant portion of its crude oil requirements. Since crude oil purchases are made in US dollars, any depreciation in the Indian rupee can increase import costs.

Taxes Imposed by Governments

Central excise duty and state VAT account for a substantial portion of retail fuel prices. Differences in state taxes explain why prices vary across regions.

Refining and Distribution Costs

Processing crude oil into usable fuels involves refining expenses, transportation, storage, and distribution costs, all of which contribute to the final retail price.

Market Demand and Supply

Seasonal demand, economic activity, and supply conditions can also influence fuel pricing trends over time.

How to Check Fuel Prices via SMS

Consumers can also check the latest petrol and diesel prices through SMS services provided by major oil marketing companies.

Indian Oil (IOCL)

Send:

RSP

to 9224992249

Bharat Petroleum (BPCL)

Send:

RSP

to 9223112222

Hindustan Petroleum (HPCL)

Send:

HP Price

to 9222201122

Customers will receive the latest fuel prices applicable to their location via SMS.

Daily Price Revision Continues

Oil Marketing Companies update petrol and diesel prices every day at 6:00 AM. Even when prices remain unchanged, checking the latest rates before refueling can help consumers stay informed, especially when travelling between states where taxes and retail prices may differ.

Disclaimer

Fuel prices mentioned in this article are based on rates released by Oil Marketing Companies for July 12, 2026. Retail prices may vary slightly due to local taxes, dealer commissions, and regional pricing factors. Consumers are advised to verify the latest rates through the official websites or mobile services of their respective fuel providers before purchasing fuel.