Petrol, Diesel Prices Today, August 5: Check Fuel Rates in Delhi, Bengaluru & More as Centre Raises Windfall Tax

Petrol and diesel prices in India remained unchanged despite a government windfall tax hike on fuel exports. This tax does not affect domestic retail prices, which are held steady by state-run oil companies. This provides consumers relief from volatility in global crude oil markets, as prices remain stable for now.

Petrol and diesel prices across India remained unchanged on August 5, even after the Central government increased the windfall tax on exports of petroleum products, including petrol, diesel and aviation turbine fuel (ATF). State-run Oil Marketing Companies (OMCs) continued to maintain retail fuel prices, offering relief to consumers despite volatility in global crude oil markets.

Petrol and Diesel Prices Today (August 5)

City	Petrol (Rs /litre)	Diesel (Rs /litre)
Rs 102.12	Rs 95.20
Rs 111.21	Rs 97.10
Rs 113.51	Rs 99.82
Rs 107.94	Rs 99.55
Rs 111.68	Rs 96.52
Rs 115.69	Rs 107.43

Consumers should note that fuel prices vary from state to state because of differences in Value Added Tax (VAT), transportation costs and local levies. While the Centre's latest windfall tax revision has attracted attention, it is aimed at exported fuel and is not expected to have an immediate impact on retail petrol and diesel prices. Motorists can therefore continue to purchase fuel at existing rates unless oil marketing companies announce a fresh revision in the coming days.

Fuel prices in India continue to be reviewed daily by Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL). However, revisions are made only when international crude prices, exchange rates and other market conditions warrant a change. Despite fluctuations in Brent crude and geopolitical tensions, retail petrol and diesel prices have remained stable in recent days.

The latest revision in windfall tax applies only to exports of petroleum products and does not directly impact domestic retail fuel prices. The Centre revised the export duties as part of its periodic review to ensure adequate domestic fuel availability and respond to changing international crude oil prices and refinery margins. Experts note that while export taxes affect refiners' profitability, they do not automatically translate into higher prices at fuel stations across the country.