State‑run oil marketing companies have kept petrol and diesel prices unchanged on July 14, as fuel rates remain at the levels set after the late‑May hike. This means motorists across major metros are paying the same prices as in recent weeks, even as global crude markets stay volatile.
Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to follow the daily dynamic pricing system, under which pump rates can be adjusted every morning based on global crude prices and currency movements.
Last week, Oil Minister Hardeep Singh Puri suggested that reducing local fuel costs is not an option at this time.
Fuel prices in the nation have escalated four times over the last four months amid the Iran war, increasing by about Rs 7.5-8 per litre during the period.
Petrol prices on July 14
- Petrol price in Delhi: Rs 102.12/litre
- Petrol price in Kolkata: Rs 113.43/litre
- Petrol price in Mumbai: Rs 111.12/litre
- Petrol price in Chennai: Rs 107.75/litre
- Petrol price in Hyderabad: Rs 115.69/litre
- Petrol price in Bengaluru: Rs 110.93/litre
Diesel prices on July 14
- Diesel price in Delhi: Rs 95.20/litre
- Diesel price in Kolkata: Rs 99.78/litre
- Diesel price in Mumbai: Rs 97.78 litre
- Diesel price in Chennai: Rs 99.57/litre
- Diesel price in Hyderabad: 103.82/litre
- Diesel price in Bengaluru: 98.79/litre
Global Crude Prices
Oil prices climbed more than 2% on Tuesday, pushing Brent crude above $85 a barrel for the first time in a month, after U.S. President Donald Trump announced plans to impose shipping fees on vessels using the Strait of Hormuz and reinstate a naval blockade of Iranian ports.
Brent crude futures for September delivery rose as much as 2.8% before trading 2.14% higher at $85.11 a barrel. U.S. West Texas Intermediate crude for August delivery gained 2.27% to $79.91 a barrel, extending Monday's rally of nearly 10%.
The latest measures have renewed concerns about crude supplies from the Persian Gulf, with investors assessing the impact of tighter restrictions on one of the world's most important oil shipping routes.
What Moves Petrol And Diesel Prices?
While international crude rates are the biggest factor for fuel prices in India, they aren't the only ones. Taxes, freight costs, refining margins, and the rupee-dollar exchange rate also play a key role in determining what you pay at the pump.
The Centre recently revised export duties on petroleum products. The change, however, does not impact retail fuel prices in India.
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