Despite fluctuations in global crude oil prices, domestic fuel prices in India have remained largely unchanged for over two years. On July 17, 2025, oil marketing companies (OMCs) released fresh petrol and diesel rates, but there has been no change in prices across major cities. Daily revisions take place at 6 AM, but due to stable international factors and policy mechanisms, Indian consumers have not seen significant fluctuations.

Why Petrol and Diesel Prices Stay Stable in India?

Fuel prices in India are determined by multiple factors including:

• Crude oil price movements

• Exchange rates (INR vs USD)

• Refining costs

• Central and state taxes

• Supply-demand dynamics

Although international crude prices have seen volatility, domestic fuel prices have remained consistent due to controlled tax policies, government oversight, and steady refining costs.

Latest Fuel Prices in Major Cities (₹/Litre)

What Factors Influence Fuel Prices in India?

1. Crude Oil Prices:
   India imports a large portion of its crude oil. Global price movements directly impact the cost of fuel production.

2. Currency Exchange Rate (INR/USD):
   A weakening rupee against the dollar increases the cost of crude imports, pushing fuel prices higher.

3. Taxation Policies:
   Fuel is subject to both central excise duty and state VAT. States with higher taxes tend to have more expensive fuel.

4. Refining and Distribution Costs:
   The process of converting crude oil into usable petrol/diesel incurs costs, which vary by refinery and region.

5. Demand and Supply Conditions:
   Seasonal or festive demand surges and any disruption in supply can affect fuel prices.

How to Check Daily Fuel Prices in Your City

You can check petrol and diesel prices in real-time by sending a simple SMS:

• For Indian Oil Customers:
  Send RSP <City Code> to 9224992249

• For BPCL Customers:
  Send RSP to 9223112222

• For HPCL Customers:
  Send HPPrice to 9222201122

Each city has a unique code, available on respective company websites or nearby fuel stations.

Why Are Fuel Prices Different Across States?

Due to different state-level taxes, fuel prices vary across India. For example, while Chandigarh sees some of the lowest rates due to minimal VAT, Mumbai and Hyderabad have higher rates owing to steeper state taxes.

Final Thoughts

While the international oil market remains volatile, fuel prices in India continue to stay stable, offering consumers some relief. As of now, there is no indication of a near-term hike or drop, unless there is a significant shift in global crude pricing, currency valuation, or domestic taxation.

Stay informed and check your local fuel prices regularly to plan your expenses better.