Despite a recent decline in global crude oil prices, petrol and diesel rates across India remained unchanged on July 7. State-owned oil companies have not yet passed on the benefits to consumers. Consequently, motorists have not seen any relief at the pump, even as international markets have softened.
Petrol and diesel prices across India remained unchanged on July 7, offering motorists price stability even as international crude oil prices have softened over the past week. The decline in global oil prices has been driven by easing geopolitical tensions in West Asia and increased crude production by OPEC+, but the benefits are yet to be reflected at fuel stations across the country.
State-owned oil marketing companies (OMCs) continued to maintain retail fuel prices without any revisions, leaving petrol and diesel rates steady in major metropolitan cities including Delhi, Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad. Fuel prices in India are reviewed daily at 6 am, but any revision depends on several domestic and international factors, including crude oil prices, the rupee-dollar exchange rate, freight costs, taxes and dealer commissions.
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As of July 7, petrol is priced at Rs 102.12 per litre in Delhi, while diesel costs Rs 95.20 per litre. In Mumbai, petrol is retailing at Rs 111.21 per litre and diesel at Rs 99.19 per litre. Chennai and Kolkata also continue to witness stable fuel prices, with regional tax structures contributing to differences in retail rates across states.
Petrol & Diesel Prices Today (July 7)
| City | Petrol (Rs /litre) | Diesel (Rs /litre) |
| Delhi | Rs 102.12 | Rs 95.20 |
| Mumbai | Rs 111.21 | Rs 97.83 |
| Kolkata | Rs 113.51 | Rs 99.82 |
| Chennai | Rs 108.01 | Rs 99.63 |
| Bengaluru | Rs 110.89 | Rs 98.80 |
| Hyderabad | Rs 115.73 | Rs 103.82 |
Although crude oil prices have eased globally, retail fuel prices in India have not followed suit. Analysts attribute this to multiple pricing components beyond crude, including central excise duty, state VAT and distribution costs. These factors significantly influence the final amount consumers pay at the pump.
Earlier this month, some petroleum products such as commercial LPG cylinders and aviation turbine fuel witnessed price reductions following the decline in international crude prices. However, domestic petrol and diesel prices have remained unchanged nationwide.
Motorists are advised to check daily fuel prices through official OMC platforms or mobile applications before refuelling, as rates can vary from one city to another due to state-specific taxes and local levies. While global oil markets continue to remain relatively stable, consumers will be watching closely to see whether lower crude prices eventually translate into relief at Indian fuel pumps.
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