Crude oil crosses 100 dollars! Have petrol and diesel become expensive today?

Due to the severe tension and war-like situation between Iran and America, the prices of crude oil have increased in the international market and it has directly crossed the figure of $ 100 per barrel. This is the first time since last May when oil prices are on such a huge rise in the global market. Meanwhile, in India also today i.e. on 25th July 2026, government oil companies have released new rates of petrol and diesel. The biggest relief for crores of drivers in the country is that even today there has been no change in the prices of petrol and diesel. Like last several days, even today the oil companies have maintained the old rates. However, in view of the ongoing fluctuations in the prices of crude oil in the international market, it is feared that it may also affect the fuel prices in India in the coming days.

Why have crude oil prices increased?

The biggest reason behind this sharp rise in oil prices in the global market is the geopolitical tension related to Iran and the concern over energy supply across the world. Market experts believe that if the situation worsens further or there is any impact on the movement of sea routes, then the supply of oil in the entire world can be badly affected. However, it is a matter of relief that this current price of crude oil is still less than the record high level of $ 120 per barrel made in the last week of April, when there was a huge panic in the markets all over the world due to the Strait of Hormuz. If we talk about India, the prices of petrol and diesel here have remained completely stable since May 25. On that day, government oil companies had increased the price of petrol by Rs 2.61 and diesel by Rs 2.71 per liter, after which there has been no change in the prices.

What are the prices of petrol and diesel in big cities of the country?

If we talk about major metros and big cities of the country, then in the national capital Delhi, petrol is currently being sold at Rs 102.12 per liter and diesel at Rs 95.20 per liter. Whereas in the financial capital Mumbai, the price of petrol is Rs 111.21 and the price of diesel is Rs 97.83 per liter. Apart from this, even in big cities like Bengaluru, Kolkata and Chennai, the price of petrol remains above Rs 108 to Rs 113 per liter. Although diesel is below Rs 100 in these cities, but in Hyderabad city of South India, the price of diesel has reached Rs 103.82 per liter.

How are the prices of petrol and diesel decided in India?

In a country like India, the retail prices of petrol and diesel completely depend on many big and important factors. The first and most important reason for this is the price of crude oil in the international market. If crude oil becomes expensive in the global market, then there is every possibility of fuel prices increasing in India too. Apart from this, the second biggest reason is the position of the Indian rupee against the US dollar. Since India imports most of its crude oil from abroad and the payment is made in dollars, hence if the rupee weakens, then buying oil becomes very expensive, which has a direct impact on the pockets of the general public.

Apart from all this, various taxes imposed by the Central and State Governments, transportation cost of taking out the crude oil from the refinery to different corners of the country and the demand and supply situation in the market also play a big role in determining the price of petrol and diesel. This is the main reason that the prices of petrol and diesel are not the same in different states and cities of India, rather each state government collects VAT and local tax accordingly, due to which the prices change everywhere.