Petrol, Diesel Prices On July 30: Fuel Rates Stay Unchanged In Delhi, Mumbai, Chennai And Other Cities

Petrol and diesel prices were unchanged across major Indian cities on July 30, according to the latest revision issued by oil marketing companies. The stability in domestic fuel rates comes even as the crude oil price remained elevated following a sharp jump in international markets during the previous session.

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Although the crude oil price has witnessed increased volatility over the past two days, retail fuel prices in India have not been revised. Daily retail rates continue to differ across states because of local taxes and other charges levied over the base fuel price.

Petrol And Diesel Prices In Major Cities

The petrol price remained highest among the listed cities in Hyderabad at ₹115.69 per litre, while Delhi continued to report the lowest petrol price at ₹102.12 per litre. For diesel, Hyderabad recorded the highest rate at ₹103.82 per litre.

Crude Oil Price Holds Near Recent Highs

International oil prices were little changed on Thursday after recording their strongest single-session gain in months. Brent crude futures were trading at $88.06 a barrel, down 0.06%, while U.S. West Texas Intermediate (WTI) crude futures were marginally higher at $84.54 a barrel.

In the previous session, Brent crude settled at $90.74 per barrel after climbing 7.9%. WTI ended at $84.46 per barrel, up 6.6%. The move followed heightened tensions in the Middle East after U.S. President Donald Trump said Washington would respond strongly to what he described as an attempted surprise attack on American forces in the region, according to Reuters.

India imports more than 85% of the crude oil it consumes. As a result, a prolonged rise in the crude oil price can increase the country’s import costs and eventually affect inflation, although retail fuel prices are determined by multiple factors beyond international benchmarks.

What Influences Petrol And Diesel Prices?

The petrol price and diesel price paid by consumers are linked to global crude oil trends, but international prices are only one part of the calculation. Central and state taxes, refinery costs, freight charges, dealer commissions and the rupee’s movement against the U.S. dollar also influence the final retail price.

Oil marketing companies review fuel prices every day under the existing pricing mechanism. Even if there is a significant fluctuation in the price of crude oil, there will be no change in the retail price if there is any balancing effect on the pricing factors.