Every new day begins not only with the first rays of the sun, but also with the new prices of petrol and diesel, which directly impact the pockets of crores of common citizens and businessmen of the country. Every day at 6 am, the country’s major oil marketing companies (OMCs) release the latest fuel rates. These prices are directly determined by the price of crude oil in the international market and changes in the exchange rate of the Indian rupee against the dollar. Be it a working person who goes to office every day or a small businessman selling fruits and vegetables in the markets, every small and big increase or decrease in fuel directly affects the general budget. In such a situation, having accurate information about the fuel rates of your city every day is not only necessary but also a very wise step. This transparent daily pricing system of the government and oil companies ensures that accurate and live information reaches consumers without any confusion. From metros to major cities: See today’s latest price (03 July 2026) According to the new rate list released by Indian oil companies, today’s retail prices of petrol and diesel in major cities of the country have been recorded as follows: City Petrol (per liter) Diesel (per liter) New Delhi Rs 102.12 Rs 83.09 Mumbai Rs 111.18 Rs 86.00 Kolkata Rs 113.47 Rs 93.50 Rs Chennai 107.77 Rs 91.50 Bengaluru Rs 110.93 Rs 90.00 Hyderabad Rs 115.69 Rs 97.00 Jaipur Rs 112.66 Rs 90.91 Lucknow Rs 102.05 Rs 95.75 Gurugram Rs 102.77 Rs 91.70 Noida Rs 102.12 Rs 91.70 (Note: Talking about some other major cities, petrol is stable at Rs 109.92 per liter in Bhubaneswar, Rs 98.10 in Chandigarh, Rs 113.35 in Patna and Rs 115.49 per liter in Thiruvananthapuram. Whereas diesel is being sold at Rs 82.25 per liter in Ahmedabad and Rs 92.50 per liter in Pune.) Despite international fluctuations, in India, Why are prices stable? If we look at the records of the last two years, there has been a great stability in fuel prices in the country. In fact, due to the major reduction in excise duty by the Central Government during May 2022 and subsequent reduction in VAT by many state governments, the prices of petrol and diesel have remained under control in the domestic market. However, in the meantime, there have been several periods of huge rise and fall in the prices of crude oil in the global market, but Indian oil companies have acted wisely and have not allowed the direct burden of international inflation to fall on the domestic consumers. Understand the 5 big factors that decide the final price of petrol and diesel. Mainly five factors are responsible for determining the price of fuel available at your nearest petrol pump in India: Global Crude Oil Price: Since India buys about 80-85% of its crude oil requirement from abroad, as soon as the prices of Brent crude go up and down at the international level, it has a direct impact on the domestic market. Dollar vs Rupee Exchange Rate: Crude oil is always traded in US dollars in the international market. If the Indian rupee weakens against the dollar, companies have to pay more for oil imports, making the fuel expensive. Central Excise and State VAT: Excise Duty is imposed on petrol and diesel by the Central Government and Value Added Tax (VAT) is imposed by individual states. This is the reason why petrol prices are different in Delhi, UP and Mumbai on the same day. Refining Cost: Crude oil cannot be put directly into vehicles. It is cleaned in the country’s big refineries and converted into petrol, diesel and gas. The cost of all this processing and logistics is also added to the final price. Balance of demand and supply: During festive season, summer holidays or peak farming season, when transportation within the country increases, there is a sudden increase in the demand for fuel, which affects the market prices. Know the exact live rate of your city sitting at home with just one SMS. You do not need to go out or worry to know today’s price of your city. You can get the latest quotes instantly by sending a simple SMS from your mobile phone: Indian Oil (IOCL) customers: Type RSP
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