Petrol-Diesel Price Today : There has been no change in the prices of petrol and diesel across the country on Sunday, July 12. Government oil companies have kept fuel prices stable even today. However, a decline in crude oil prices was recorded in the international market on Friday. During this period, Brent crude closed at $ 76.24 per barrel and WTI crude closed at $ 72.04 per barrel.
This fall in crude oil prices was seen after positive news regarding ceasefire and peace agreement despite tension between America and Iran. This has increased the hope that energy supply through the Strait of Hormuz will become normal again. Also, America refrained from targeting Iran’s major energy infrastructure. It was also said from the US side that this conflict will not take the form of a long war, which has reduced the concerns of investors.
no change in prices
Petroleum Minister Hardeep Singh Puri had indicated last week that at present no consideration is being given to reducing the prices of petrol and diesel at the domestic level. Meanwhile, OPEC+ has decided to increase oil production by additional 1.88 lakh barrels per day from August 2026. Despite this decision to increase the production limit for the 50th consecutive month, there is currently no change in domestic fuel prices.
City wise petrol and diesel prices
It is noteworthy that after the increase in tension between America and Iran in the last week of February, the prices of petrol and diesel in the country have increased four times in the last four months. During this period, overall fuel prices have increased by about Rs 7.5 to Rs 8 per litre.
Why are the prices of petrol and diesel different in states?
The central government charges the same excise duty on petrol and diesel across the country, but state governments impose VAT or sales tax accordingly. For this reason, fuel prices differ in different states. For example, in Andaman and Nicobar, petrol and diesel are relatively cheaper due to low taxes, whereas in states like Rajasthan, Madhya Pradesh and Maharashtra, prices remain high due to high taxes. Apart from this, transportation costs and local demand-supply situation also affect retail prices.
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