Petrol, Diesel Prices Today (August 1): Check Fuel Rates in Delhi, Bengaluru as Brent Records Biggest Monthly Gain

On August 1, petrol and diesel prices in India remained largely unchanged, maintaining rates set on May 25. This stability occurred despite significant global market volatility, with Brent crude oil prices rising to around $88 per barrel due to supply concerns.

Petrol and diesel prices across India remained largely unchanged on Saturday, August 1, even as global crude oil markets witnessed heightened volatility. Retail fuel rates continue to reflect the last major revision announced on May 25, with only marginal city-level variations caused by local taxes and transportation costs. The stability in domestic pump prices comes despite Brent crude registering its biggest monthly gain since March, driven by supply concerns linked to geopolitical tensions and shipping disruptions through the Strait of Hormuz.

Brent crude hovered around $88 per barrel, keeping energy markets on edge. However, Indian consumers have not yet seen any immediate impact on retail fuel prices, as oil marketing companies have maintained existing rates while monitoring global developments.

Petrol and Diesel Prices Today (August 1)

City	Petrol (Rs /litre)	Diesel (Rs /litre)
Rs 102.12	Rs 95.20
Rs 111.21	Rs 97.83
Rs 113.51	Rs 99.82
Rs 107.94	Rs 99.71
Rs 111.68	Rs 99.56
Rs 115.69	Rs 103.82

In a significant move aimed at strengthening India's long-term energy security, the Union Cabinet has approved the National Offshore Exploration Scheme – 'Samudra Manthan'. The ambitious programme, with an outlay of Rs 84,084 crore through FY2030-31, seeks to boost domestic oil and gas production, accelerate deepwater and ultra-deepwater exploration, develop offshore infrastructure and reduce India's dependence on imported crude oil. The decision assumes greater importance as global energy markets continue to remain volatile due to ongoing geopolitical conflicts.

Fuel prices in India are revised daily at 6 AM, although changes are implemented only when international crude prices and currency movements warrant a revision. Since petrol and diesel are subject to state-specific Value Added Tax (VAT), dealer commissions and freight charges, prices vary from one city to another.

While international oil prices remain elevated, domestic retail fuel prices have remained steady, offering temporary relief to consumers. Market watchers will continue tracking crude oil movements and geopolitical developments to assess whether any revisions in petrol and diesel prices become necessary in the coming weeks.