Indian Petrol Prices Hold Steady Amid Global Volatility
Petrol prices in India have remained steady, with most cities retaining their rates from last week. According to Hindustan Times, on August 2, 2026, petrol was retailing at Rs 102.12 a litre in Delhi and Rs 103.54 in Mumbai. In other major cities, the price ranged from Rs 107.74 in Chennai to Rs 113.51 in Kolkata.
The prices are calculated based on international crude oil rates, currency exchange rates, local taxes (VAT), and dealer commissions. The Indian government imposes a central excise duty on petrol, which varies over time based on policies. Diesel is another major source of energy for transportation in India, with its price also influenced by global crude oil prices.
The rupee's value has an impact on domestic fuel prices. A weak rupee increases the landed cost of dollar-denominated crude oil. Petrol and diesel prices are reviewed daily based on the benchmark international rate of the preceding 15 days.