Fuel prices remained largely unchanged in the country on Tuesday, and held steady across most metros. The last major revision in petrol prices was in March 2024, when the rate was cut by Rs 2 per litre.
Here are the updates on the petrol and diesel prices on June 24, 2025:
In Delhi, a litre of petrol is retailed at Rs 94.77, and diesel costs Rs 87.67. In Mumbai, petrol is priced at Rs 103.50 per litre, and diesel costs Rs 90.03. In Chennai petrol is now sold at Rs 100.80 a litre, and diesel costs Rs 92.39. Petrol is sold at Rs 105.41 in Kolkata, and diesel is priced at Rs 92.02.
In India, fuel prices have remained steady since May 2022, after the central government and various state governments reduced fuel taxes.
Currently, oil marketing companies such as state-run Indian Oil Corporation review the domestic prices of petrol and diesel on a daily basis, and any changes – determined broadly by the global crude oil prices and the foreign exchange rates – are effected at the fuel stations at 6 a.m.
The price revisions method, or the dynamic fuel price methodology, considers several factors such as international crude prices, the exchange rate of the rupee against the dollar, actual and expected demand, and the trade flow in global crude markets.
According to bloomberg reports, it has been a turbulent week for the oil market, with futures swinging in a range of around $8, volatility spiking, timespreads significantly widening, and options at one stage more bullish than after Russia's invasion of Ukraine.
On Tuesday, oil extended a slump as US President Donald Trump announced a tentative ceasefire between Iran and Israel. The plunge — which followed a roller-coaster session on Monday that ended in steep losses — took prices to below their level on June 12, the day before Israel attacked Iran.
Brent tumbled toward $69.36 a barrel, with a decline of 2.97%, while West Texas Intermediate for August traded near $66.26 with a gain of 3.28%, bloomberg reported.
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