Petrol, Diesel Prices On July 17: Check Latest Fuel Rates In Delhi, Mumbai, Bengaluru, Hyderabad And Other Cities

State-run oil marketing companies kept petrol and diesel prices unchanged on July 17, with retail fuel rates continuing at levels set after the late-May revision. The stability in domestic pump prices comes as global crude oil prices remain volatile amid heightened geopolitical tensions in West Asia.

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Indian Oil, Bharat Petroleum and Hindustan Petroleum follow a daily pricing system that allows fuel rates to be revised based on international crude oil prices, currency movements and other cost factors.

The latest petrol price and diesel price figures show no change in the listed cities on July 17.

Centre Raises Duties On Diesel And ATF Exports

The Centre has increased the windfall tax on exports of diesel and aviation turbine fuel (ATF), while reducing the levy on petrol exports. The revised duties came into effect from July 16 through a Finance Ministry notification.

The export duty on diesel was raised to ₹15.5 per litre from ₹8.5 per litre. The levy on ATF exports increased to ₹14.5 per litre from ₹7.5 per litre, while the duty on petrol exports was lowered to ₹2.5 per litre from ₹4 per litre.

The changes apply to exports and do not directly alter domestic retail fuel rates.

Crude Oil Prices Rise On Supply Concerns

Brent crude price traded near $85 a barrel on Friday and was headed for a weekly gain of nearly 12%, its strongest weekly performance since April. West Texas Intermediate crude rose above $79 a barrel.

The latest rise followed another round of U.S. attacks on Iran on Thursday. Market concerns also increased after reports of an attack involving an oil tanker near Iran’s main export terminal.

Reuters reported that Tehran had instructed Yemen’s Houthi rebels to shut the Bab el-Mandeb Strait if Iranian power infrastructure came under attack. The waterway is an important route for energy shipments, including Saudi Arabian oil exports.

What Determines Petrol And Diesel Prices?

International crude oil prices are a major factor influencing domestic fuel rates, but retail prices also reflect taxes, freight expenses, refining margins and the rupee-dollar exchange rate.

The recent revision in petroleum product export duties is separate from domestic pump pricing. As a result, the increase in duties on diesel and ATF exports has not led to a corresponding change in petrol price or diesel price for consumers in the cities listed above.