New Delhi: There was no change in petrol and diesel prices across India on July 11, as oil marketing companies kept fuel rates unchanged despite a decline in global crude oil prices. Brent crude settled at around $76 per barrel, but the drop has not yet been reflected in domestic retail fuel prices.
Fuel prices in India were last revised on May 25, when petrol prices were increased by ₹2.61 per litre and diesel prices by ₹2.71 per litre. Since then, retail fuel rates have remained unchanged.
What are the latest rates in major cities of the country?
Fuel prices in big cities of the country remain the same as before.
City Petrol (Rs/litre) Diesel (Rs/litre)
Delhi 102.12 95.20
Mumbai 111.21 97.83
Kolkata 113.51 99.82
Chennai 107.94 99.71
Bengaluru 110.44 98.39
Hyderabad 115.69 103.82
Diesel prices in Hyderabad remain above Rs 100 per litre, while in other major cities they are below Rs 100.
Has any company made fuel cheaper?
State oil companies have kept prices unchanged, but Rosneft-backed Nayara Energy has made petrol cheaper by Rs 5 and diesel by Rs 3 per litre at its nearly 7,000 petrol pumps. This reduction is applicable only on its retail network.
How are the prices of petrol and diesel decided in India?
Fuel prices in India depend on many factors. The biggest impact of these is the prices of crude oil in the international market. Apart from this, the position of the rupee against the dollar, taxes imposed by the central and state governments, transportation costs, and local demand also affect the prices.
Why are prices different in every state and city?
VAT and other local taxes vary in different states of the country. This is the reason why the prices of petrol and diesel are not the same in every city. Apart from this, freight charges and local taxes also affect the retail prices.
