Fuel Price Today: Oil marketing companies (OMCs) have released the latest petrol and diesel prices for July 7, 2026. While fuel rates remain largely unchanged across most parts of the country, minor variations have been recorded in some cities due to local taxes and transportation costs.

Oil marketing companies update petrol and diesel prices every day at 6:00 AM, reflecting changes in global crude oil prices, currency exchange rates, and other market factors. Although international crude oil prices continue to fluctuate, fuel prices in India have remained relatively stable in recent months, with only marginal changes in select cities.

The daily revision system allows consumers to access updated fuel prices while ensuring greater transparency in retail pricing.

Petrol and Diesel Prices in Major Cities

Here are the latest retail fuel prices for July 7, 2026:

Fuel prices may vary slightly across districts within the same state due to differences in local taxes and transportation charges.

Why Have Fuel Prices Remained Largely Stable?

Despite fluctuations in international crude oil markets, petrol and diesel prices in India have remained relatively stable for an extended period.

One of the key reasons is the reduction in fuel taxes announced by the Central Government and several state governments in May 2022. Since then, retail fuel prices have witnessed fewer significant changes, although small daily revisions continue in some locations depending on local pricing factors.

What Determines Petrol and Diesel Prices?

Several domestic and international factors influence fuel prices in India.

1. Global Crude Oil Prices

Petrol and diesel are refined from crude oil. When crude oil prices increase in international markets, the cost of producing fuel also rises, which can influence domestic retail prices.

2. Rupee-Dollar Exchange Rate

India imports a substantial portion of its crude oil requirements, with transactions generally conducted in US dollars.

If the Indian rupee weakens against the US dollar, the cost of importing crude oil increases, potentially affecting fuel prices.

3. Central and State Taxes

Taxes imposed by the Central Government and individual state governments account for a significant portion of the retail price of petrol and diesel.

Since state-level taxes differ, fuel prices also vary from one state to another.

4. Refining and Distribution Costs

The cost of refining crude oil into petrol and diesel, transporting the fuel, and distributing it through retail outlets also contributes to the final selling price.

These costs can vary depending on refinery operations, logistics, and infrastructure.

5. Demand and Supply

Market demand also influences fuel pricing.

During periods of higher consumption—such as festivals, holiday travel seasons, or increased industrial activity—fuel demand may rise. Global supply conditions, production decisions by oil-producing countries, and geopolitical developments can also affect crude oil prices.

How to Check Fuel Prices via SMS

Consumers can also check the latest fuel prices for their city through SMS services provided by oil marketing companies.

• Indian Oil (IOCL): Send RSP to 9224992249.
• Bharat Petroleum (BPCL): Send RSP to 9223112222.
• Hindustan Petroleum (HPCL): Send HPPRICE to 9222201122.

The corresponding city code can be obtained from the respective company's official website.

Stay Updated Before Refuelling

Since petrol and diesel prices are revised every morning, checking the latest rates before refuelling can help consumers stay informed. While daily changes are often minimal, local taxes and market conditions can result in slight differences across cities.

Keeping track of fuel prices is especially useful for frequent commuters, commercial vehicle operators, and businesses that depend heavily on transportation costs.