Fuel prices across India held steady on June 23, even as global crude markets remain on edge amid tensions in West Asia and disruptions to key shipping routes. The petrol and diesel rates have remained stable since May 25, when state-owned fuel retailers hiked petrol prices by ₹2.61 per litre and diesel by ₹2.71 per litre. 

In Delhi, petrol continues to retail above Rs 100. It now costs Rs 102.12 per litre and diesel Rs 95.20 per litre, following the latest increase.

In Mumbai, too, petrol prices crossed the Rs 110 mark, with new prices being Rs 111.21 and diesel at Rs 97.83.

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In major cities such as Bengaluru, Hyderabad, and Kolkata, petrol prices are still above Rs 110 per litre, while diesel remains below Rs 100, except in Hyderabad, where it's priced at Rs 103.82.

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Fuel prices in key cities (June 23)

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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.

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.

Published on: Jun 23, 2026 8:05 AM IST