Fresh Fuel Price Revisions Announced With Petrol, Diesel Costs Updated Across Select Cities Today

Petrol and diesel prices in India remained largely steady on July 13, although global crude oil prices moved higher following renewed geopolitical tensions in the Middle East. Investors and consumers are closely tracking developments after fresh military exchanges between the United States and Iran raised concerns over potential disruptions to global oil supplies through the Strait of Hormuz, a vital shipping route for crude exports. While international oil prices have climbed, retail fuel prices in India continue to vary across cities depending on local taxes and other cost components.

According to the latest fuel price data, petrol in Delhi is retailing at Rs 102.12 per litre, while diesel costs Rs 95.20 per litre. In Mumbai, petrol is priced at Rs 111.12 per litre and diesel at Rs 97.78 per litre. Kolkata recorded petrol prices of Rs 113.43 per litre and diesel at Rs 99.78 per litre. In Chennai, petrol is being sold at Rs 107.75 per litre, while diesel is priced at Rs 99.57 per litre. Hyderabad continues to have among the highest fuel prices, with petrol at Rs 115.69 per litre and diesel at Rs 103.82 per litre. In Bengaluru, petrol costs Rs 110.93 per litre and diesel is available at Rs 98.79 per litre.

Global oil markets witnessed a sharp rally on Monday after reports of fresh strikes involving the United States and Iran heightened fears over energy supplies. According to reports, the US military carried out multiple strikes in Iran, stating that the operations were intended to reduce Tehran's ability to disrupt commercial shipping through the Strait of Hormuz. The escalation follows Iran's reported move to once again block the strategic waterway, a route through which nearly one-fifth of the world's oil supply is transported. Any prolonged disruption in the region has the potential to significantly affect global energy markets and increase crude prices.

Also Read: Check Latest Petrol And Diesel Rates Across Delhi, Mumbai And Other Major Cities Today

Reflecting these concerns, Brent crude futures climbed 3.5% to $78.67 per barrel, approaching the $79 mark, while US West Texas Intermediate (WTI) crude gained 3.4% to $73.87 per barrel. The increase comes despite efforts by OPEC+ to stabilise energy markets. During a virtual meeting on Sunday, the producer group announced that seven member countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman—would collectively increase oil production by 188,000 barrels per day from August. The move is aimed at improving supply as global demand gradually recovers, though the latest geopolitical developments have overshadowed the production boost.

Fuel prices in India are influenced by several domestic and international factors. While global crude oil prices remain the primary driver, retail rates are also determined by central and state taxes, transportation and freight costs, refinery margins, dealer commissions, and fluctuations in the rupee-dollar exchange rate. Because state-level taxes differ, petrol and diesel prices vary across cities even when the base price remains unchanged.

In recent months, consumers have witnessed multiple revisions in fuel prices as international crude markets remained volatile. The Centre has also revised export duties on certain petroleum products, although these changes do not directly affect retail petrol and diesel prices paid by consumers. Going forward, market participants will closely monitor geopolitical developments in the Middle East, OPEC+ production decisions, currency movements and global crude trends, all of which could influence fuel pricing in the coming weeks.

Also Read: Check Petrol And Diesel Prices Across Major Indian Cities Before Refuelling On July 8