Petrol, diesel prices today, July 18: Check latest prices in Delhi, Mumbai, Kolkata and other cities

Fuel prices across Indian cities remained largely steady on July 18, even as global crude markets remain on edge amid tensions in West Asia and disruptions to key shipping routes. Prices continue to remain constant even as oil prices settled lower last week after the latest round of US-Iran war amid hopes that shipping would eventually resume via the Strait of Hormuz.

The petrol and diesel rates have remained stable since May 25, when state-owned fuel retailers last hiked petrol prices by ₹2.61 per litre and diesel by ₹2.71 per litre. In Delhi, petrol continues to retail above ₹100. It now costs ₹102.12 per litre and diesel ₹95.20 per litre, following the latest increase.

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In Mumbai, too, petrol prices crossed the ₹110 mark, with new prices being ₹111.21 and diesel at ₹97.83. In major cities such as Bengaluru, Hyderabad, and Kolkata, petrol prices are still above ₹110 per litre, while diesel remains below ₹100, except in Hyderabad, where it's priced at ₹103.82.

Check latest petrol rates here

Fuel prices in key cities (June 28)

City	Petrol (₹/litre)	Diesel (₹/litre)
Delhi	102.12	95.20
Hyderabad	115.69	103.82
Kolkata	113.51	99.56
Mumbai	111.21	97.83
Bengaluru	111.68	98.80
Chennai	107.76	99.55

Check latest diesel rates here

What drives petrol and diesel prices in India? 

A combination of global, economic, and domestic factors shapes fuel prices at the pump. At the heart of it is the international price of crude oil, the base raw material for both petrol and diesel, which has the single biggest bearing on what consumers ultimately pay.

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The rupee-dollar exchange rate is another key variable, given that India relies heavily on imported crude. When the rupee weakens against the dollar, the cost of procuring crude rises, which can feed directly into higher retail fuel prices.

Why do prices differ across different cities?

On top of that, taxes levied by both the central and state governments make up a substantial portion of the final price, which is why petrol and diesel rates differ across states. Transportation costs and prevailing demand-supply conditions also factor into the retail price consumers see at the pump.