Petrol and diesel prices in India remained unchanged on July 12, despite global market volatility from Iran's potential closure of the Strait of Hormuz. This strategic waterway's disruption could spike crude oil prices. However, India's state-run oil companies have not revised retail rates.
Petrol and diesel prices across India remained unchanged on July 12, offering temporary relief to consumers even as global crude oil markets continue to monitor developments surrounding Iran's reported closure of the Strait of Hormuz. The strategic waterway handles nearly one-fifth of the world's oil shipments, making any disruption a key trigger for higher crude prices and increased volatility in energy markets.
Although Brent crude has stayed elevated due to geopolitical uncertainty, India's state-run oil marketing companies (OMCs) have not revised retail fuel prices for the day. Industry observers note that domestic fuel prices are influenced by a combination of international crude rates, exchange rates, taxes and marketing margins rather than daily fluctuations alone.
Fuel prices have remained largely stable since the latest revisions in May, when petrol and diesel rates were increased amid rising international crude prices linked to tensions in West Asia. Since then, consumers have seen no fresh revision despite continued volatility in the global oil market.
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Market participants are closely tracking developments in the Middle East, as any prolonged disruption to oil supplies through the Strait of Hormuz could increase India's import costs. India imports nearly 85% of its crude oil requirements, making global supply disruptions an important factor in determining future fuel pricing. However, analysts believe sustained changes in crude prices—not short-term spikes—are more likely to influence retail fuel revisions.
Consumers can continue checking the latest city-wise petrol and diesel prices through the official portals or SMS services provided by Indian Oil, Bharat Petroleum and Hindustan Petroleum. Fuel rates vary across states because of differences in Value Added Tax (VAT), transportation costs and local levies.
Petrol and Diesel Prices Today (July 12)
City Petrol (Rs /litre) Diesel (Rs /litre)
Delhi Rs 102.12 Rs 95.20
Mumbai Rs 111.21 Rs 97.83
Bengaluru Rs 111.68 Rs 99.56
Kolkata Rs 113.51 Rs 99.82
Chennai Rs 107.76 Rs 99.55
Hyderabad Rs 115.69 Rs 103.82
Despite geopolitical uncertainty and concerns over global crude supply, retail fuel prices across India's major metros remain unchanged for July 12, providing motorists with short-term price stability while markets await further developments in the Middle East.
