Petrol and diesel prices remained unchanged across major Indian cities on July 11 as state-run oil marketing companies (OMCs) continued with the existing fuel rates. Companies including Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation maintained the same prices, with no revision announced for consumers. Fuel prices in India are revised daily by oil marketing companies based on factors including international crude oil rates, currency movements and taxation policies.
In the national capital, petrol was priced at Rs 102.12 per litre, while diesel was available at Rs 95.20 per litre. Among major metropolitan cities, Mumbai continued to record some of the highest fuel prices, with petrol selling at Rs 111.21 per litre and diesel at Rs 97.83 per litre. Kolkata's petrol price stood at Rs 113.51 per litre, while diesel was priced at Rs 99.82 per litre.
In southern cities, petrol prices remained higher compared with several other parts of the country. Chennai recorded petrol at Rs 108.01 per litre and diesel at Rs 99.66 per litre. Hyderabad saw petrol prices at Rs 115.73 per litre, the highest among the listed major cities, while diesel was priced at Rs 103.82 per litre. In Bengaluru, petrol was available at Rs 110.89 per litre and diesel at Rs 98.80 per litre.
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The stability in domestic fuel prices came despite fluctuations in global crude oil markets during the week. International oil prices settled after a volatile period, with markets responding to reports that Iran had shown willingness to engage in negotiations amid ongoing efforts to restart diplomatic discussions with Washington. Brent crude remained near $76 per barrel after declining by more than 2 per cent during Thursday's trading session, while West Texas Intermediate (WTI) crude traded below $72 per barrel.
Despite the recent decline, crude prices remained elevated on a weekly basis as investors continued to monitor potential disruptions to global oil supplies. Concerns over shipping activity through the Strait of Hormuz, one of the world's most important energy transit routes, continued to influence market sentiment. Any disruption in the region could have a significant impact on global crude availability and prices.
Domestic petrol and diesel rates are influenced by multiple factors beyond international crude prices. While crude oil remains the primary component affecting fuel costs, taxes imposed by central and state governments, transportation charges, refining margins and fluctuations in the rupee-dollar exchange rate also contribute to the final retail price paid by consumers. The Centre's recent changes to export duties on petroleum products do not directly impact retail fuel prices within India.
Fuel prices have remained a closely watched issue for consumers and businesses due to their impact on transportation costs, inflation and household budgets. Any sustained movement in international crude prices, currency exchange rates or government taxation policies could influence future revisions by oil marketing companies. For now, petrol and diesel rates remain unchanged across major Indian cities, providing short-term stability for consumers.
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