Despite the fall in crude oil prices, the burden on the pocket remains, know when petrol and diesel will become cheaper.

New Delhi: There has been a continuous decline in the prices of crude oil in the international market for the last few days. Despite expectations of reducing tension in West Asia and increase in oil production, there is currently no relief in the prices of petrol and diesel in India. Even on Tuesday, July 7, 2026, government oil companies released new fuel prices, but there was no change in the prices. In such a situation, there is still a question in the minds of common people that when crude oil is becoming cheaper then when will the prices of petrol and diesel finally reduce.

According to the latest update released by government oil marketing companies, on July 7, 2026, the prices of petrol and diesel across the country will remain the same as before. Last week, the prices of crude oil kept going up and down in the international market, but its effect was not visible on the domestic retail prices. Recently, Union Petroleum Minister Hardeep Singh Puri had also clarified that at present there is no plan to reduce the prices of petrol and diesel. In such a situation, the prices are expected to remain stable in the near future also.

Fuel prices have increased several times this year

Although oil prices have moderated internationally, petrol and diesel prices were increased several times in India during the last few months. Especially during the US-Iran tension, fuel became expensive on four different occasions. Overall, during this period, the prices of petrol and diesel increased by about Rs 7.5 to Rs 8 per liter. Meanwhile, OPEC+ has decided to produce 1.88 lakh barrels of additional oil per day from August 2026. Despite this, no relief has been seen in the Indian market at present.

Petrol prices in major cities on July 7

Delhi- Rs 102.12 per liter
Kolkata- Rs 113.51 per liter
Mumbai- Rs 111.21 per liter
Chennai- Rs 108.01 per liter
Hyderabad- Rs 115.73 per liter
Bengaluru – Rs 110.89 per liter

Diesel prices in major cities on July 7

Delhi- Rs 95.20 per liter
Kolkata- Rs 99.82 per liter
Mumbai- Rs 97.83 per liter
Chennai- Rs 99.66 per liter
Hyderabad- Rs 103.82 per liter
Bengaluru – Rs 98.80 per liter

What is the situation in the global market?

Not much change was seen in the prices of crude oil in the international market on Tuesday. However, the news of the attack on an oil tanker near the Strait of Hormuz has again increased the concerns of the global energy market. This area is counted among the most important oil transportation routes in the world. The price of Brent crude in the market remained above $ 72 per barrel, while West Texas Intermediate (WTI) continued to trade around $ 69 per barrel. According to experts, crude oil prices had fallen by about 30 percent in the second quarter of this year. The main reason for this is believed to be the interim peace agreement between America and Iran, which reduced the possibility of oil supply being affected in the Middle East.

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

Petrol and diesel prices in India do not depend only on international crude oil prices. Many other important factors are also involved in their determination. Among these, taxes imposed by the central and state governments, cost of refining, transportation expenses, dealer commission and rupee-dollar exchange rate are prominent. This is the reason that despite crude oil being cheaper in the global market, there is no immediate reduction in the prices of petrol and diesel in the domestic market.

What is the effect of change in export duty?

Recently the Central Government has amended the export duty on some petroleum products. However, it does not have a direct impact on the retail prices of petrol and diesel in the country. Experts believe that if crude oil prices remain low in the international market for a long time and other costs also remain controlled, only then can consumers get relief in fuel prices in future.