Oil Marketing Companies (OMCs) have released the latest petrol and diesel prices for August 4, 2026, with the revised rates coming into effect from 6:00 AM. While international crude oil prices and the rupee's exchange rate against the US dollar continue to influence fuel pricing, retail rates have remained largely unchanged in most parts of the country. Minor variations are still visible in some cities due to differences in state-level taxes, VAT, and local transportation charges.

Although global energy markets have witnessed fluctuations in recent weeks, Indian consumers continue to see relatively stable fuel prices. This consistency has provided relief to millions of vehicle owners, commuters, transport businesses, and commercial users who closely monitor daily fuel costs.

Fuel Prices Continue to Remain Stable

Every morning, India's public sector oil marketing companies revise petrol and diesel prices based on several economic and market-related factors. These include international crude oil trends, the rupee-dollar exchange rate, refining costs, freight charges, and government taxes.

Despite changes in global crude oil markets, there has been no major revision in retail fuel prices for most Indian cities today. Consumers are therefore expected to pay rates similar to those seen over the past several weeks.

Petrol and Diesel Prices in Major Cities Today

Here are the latest fuel prices announced on August 4, 2026:

Why Are Petrol and Diesel Prices Different Across States?

Many consumers notice that fuel prices vary from one city to another. This happens because every state imposes its own Value Added Tax (VAT) and local levies on petroleum products. Transportation expenses, dealer commissions, and municipal taxes also contribute to price differences.

As a result, even when the base fuel price remains the same, motorists in different states may pay different amounts at fuel stations.

What Determines Daily Fuel Prices?

Several domestic and international factors influence the daily pricing of petrol and diesel in India.

1. International Crude Oil Prices

India imports a significant portion of its crude oil requirement. Any rise or fall in global crude prices directly impacts the cost of refining petroleum products.

2. Rupee Against the US Dollar

Since crude oil is purchased in US dollars, fluctuations in the Indian rupee's value affect import costs. A weaker rupee generally increases fuel expenses, while a stronger rupee can help reduce costs.

3. Central and State Taxes

Excise duty imposed by the Central Government and VAT charged by state governments account for a considerable portion of the retail price. Tax structures differ across states, leading to variations in fuel rates.

4. Refining and Distribution Costs

Converting crude oil into petrol and diesel involves refining, storage, transportation, and distribution expenses. These operational costs are also reflected in the final retail price.

5. Demand and Supply Conditions

Fuel consumption often increases during holiday seasons, festivals, agricultural activities, and peak travel periods. Higher demand or supply disruptions can influence market pricing over time.

Why Have Retail Fuel Prices Remained Largely Unchanged?

Petrol and diesel prices have witnessed relative stability since tax reductions announced in 2022 by the Central Government and several states. Although international crude oil prices continue to fluctuate, domestic retail prices have remained comparatively steady due to government policies and pricing adjustments by oil marketing companies.

However, experts note that any sharp movement in global crude prices or significant changes in exchange rates could influence future fuel pricing decisions.

How to Check Petrol and Diesel Prices Through SMS

Consumers can also check the latest fuel prices without visiting a petrol pump or website.

• Indian Oil (IOCL): Send RSP to 9224992249.
• BPCL: Send RSP to 9223112222.
• HPCL: Send HP Price to 9222201122.

These SMS services provide the latest city-specific petrol and diesel rates directly on your mobile phone.

Bottom Line

Fuel prices across India remained largely unchanged on August 4, 2026, offering continued relief to consumers despite ongoing volatility in international crude oil markets. Since fuel prices are reviewed every day at 6:00 AM, motorists are advised to check the latest rates regularly before refuelling, especially if they are travelling across different states where local taxes can result in noticeable price differences.