Petrol-Diesel Rates: Planning an outing this weekend? Check today's petrol and diesel rates first.

Petrol-Diesel Rates Today (July 12): There has been no change in petrol and diesel prices across the country today, Sunday, July 12. However, oil prices had dropped on Friday; Brent crude slipped to $76.24 per barrel, and WTI crude closed at $72.04 per barrel. This decline in oil prices occurred amidst positive news regarding a potential ceasefire and peace agreement between the US and Iran—despite existing tensions—raising hopes that energy shipments through the Strait of Hormuz would resume. Meanwhile, the US refrained from targeting Iran's key energy infrastructure. Officials also stated that "this conflict will not escalate into a prolonged war," a sentiment that has somewhat alleviated investor fears.

Will petrol and diesel prices drop anytime soon?

Petroleum Minister Hardeep Singh Puri indicated last week that there is currently no plan to reduce domestic fuel prices. This stance comes even as OPEC+ has announced a further increase in oil production by 188,000 barrels per day starting in August 2026. This marks the 50th consecutive month that OPEC+ nations have raised their production limits. It is worth noting that since tensions between the US and Iran began in the last week of February, fuel prices in the country have risen by approximately ₹7.5–8 per litre over the past four months.

City-wise petrol and diesel prices

Why do rates vary across different cities?

The central government levies a uniform excise duty across the country, whereas state governments impose VAT or sales tax on petrol and diesel at varying rates. For instance, fuel is cheaper in the Andaman and Nicobar Islands due to lower taxes, while it is more expensive in states like Rajasthan, Madhya Pradesh, and Maharashtra due to higher taxes. Transportation costs and the prevailing supply-and-demand situation also influence the retail price customers see at petrol pumps.