Petrol and Diesel Prices Today: Latest Fuel Rates Announced Across India, Check Prices in Your City

Petrol Diesel Price Today: India's oil marketing companies released the latest petrol and diesel prices at 6 a.m. on July 23. While fuel rates remained unchanged in most cities, minor variations were seen in some locations due to state taxes and local levies. Here's a look at today's prices and the factors that influence fuel costs.

Every morning at 6:00 a.m., India's public sector oil marketing companies (OMCs) update the retail prices of petrol and diesel across the country. These daily revisions are based on changes in global crude oil prices, the Indian rupee's exchange rate against the US dollar, and state-specific taxes.

Although international oil prices continue to fluctuate, fuel prices have remained largely stable in India over the past two years. However, consumers in different states often pay different rates because of varying Value Added Tax (VAT) and local taxes imposed by state governments.

Below are the latest petrol and diesel prices for July 23, 2026 in major Indian cities.

Petrol and Diesel Prices in Major Cities Today

Most metropolitan cities witnessed no major change in fuel prices today. Minor differences in retail rates continue to be driven primarily by local taxation policies.

Why Have Fuel Prices Stayed Largely Stable?

Despite periodic volatility in global crude oil markets, retail fuel prices in India have remained relatively steady since May 2022, when the Central Government and several state governments reduced taxes on petrol and diesel.

Since then, even though international crude prices have moved up and down, domestic retail prices have not experienced frequent large-scale revisions. This has helped maintain greater price stability for consumers and businesses.

What Determines Petrol and Diesel Prices?

Several economic and policy factors influence the final retail price consumers pay at fuel stations.

1. International Crude Oil Prices

Petrol and diesel are refined from crude oil. When global crude prices rise, the cost of producing fuel also increases, which can eventually impact domestic fuel prices.

2. Rupee-Dollar Exchange Rate

India imports a significant portion of its crude oil, and purchases are made in US dollars. If the Indian rupee weakens against the dollar, importing crude becomes more expensive, increasing overall fuel costs.

3. Central and State Taxes

Taxes account for a substantial portion of petrol and diesel prices. Excise duty imposed by the Central Government and VAT levied by state governments vary across regions, resulting in different retail prices from one state to another.

4. Refining and Distribution Costs

Before crude oil reaches consumers as petrol or diesel, it undergoes refining and transportation. These operational expenses also contribute to the final retail price.

5. Demand and Supply Conditions

Fuel demand tends to increase during festive seasons, holiday travel periods, and peak agricultural activity. Changes in demand and supply dynamics can also influence pricing trends over time.

How to Check Fuel Prices Through SMS

Consumers can also check the latest petrol and diesel prices on their mobile phones by sending an SMS to their respective fuel provider.

• Indian Oil (IOCL): Type RSP and send it to 9224992249.

• Bharat Petroleum (BPCL): Send RSP to 9223112222.

• Hindustan Petroleum (HPCL): Send HP Price to 9222201122.

These services provide the latest retail fuel prices for your location without requiring internet access.

Daily Price Updates Help Consumers Stay Informed

The daily fuel price revision system ensures transparency by providing updated rates every morning based on prevailing market conditions. While today's prices remained largely unchanged across major cities, motorists are advised to check the latest rates regularly, especially when international crude oil prices or currency movements become volatile. Keeping track of daily fuel prices can help consumers better plan travel expenses and household budgets.