Petrol and diesel prices remain stable for most of India on Friday, July 10. For cities like Delhi, Mumbai, Kolkata, Hyderabad, Jaipur, and Lucknow, petrol price no change. Diesel rates also hold steady for most major markets. However, Chennai and Bhubaneswar see small increase for both fuels, while Bengaluru record the biggest drop.
Fuel prices dey revise every day, but retail rates vary from state to state because of differences in value-added tax (VAT), freight charges, and other local levies.
Oil prices rise on Friday and dey on track for weekly gains as persistent concerns over potential supply disruptions for Middle East weigh. Renewed hostilities between the United States and Iran continue to keep energy markets on edge, even as investors take comfort from absence of direct attacks on major oil infrastructure.
Brent dey on course to gain about 6% for the week, while WTI dey set for 5% weekly advance, supported by fears that escalating geopolitical tensions fit disrupt global crude supplies. Markets remain focused on developments for Middle East after fresh military strikes between Washington and Tehran strain a recently announced ceasefire.
Iran reportedly target US-linked infrastructure for Gulf, while explosions dey reported near Bushehr nuclear facility. However, traders take some reassurance from US President Donald Trump remarks wey suggest that broader regional conflict remain unlikely, and from fact that major energy infrastructure so far escape damage. Although shipping through Strait of Hormuz remain partially restricted, oil exports no see significant disruption.
Petrol prices remain unchanged across most Indian metro cities and state capitals on Friday, with rates holding steady for New Delhi, Mumbai, Kolkata, Hyderabad, Jaipur, Lucknow, Patna, and Thiruvananthapuram. Petrol prices for Noida tick down by 7 paise while Gurgaon and Chandigarh stand pat.
Diesel prices remain largely unchanged across India metro cities and most state capitals on Friday, with no revisions for New Delhi, Mumbai, Kolkata, Hyderabad, Jaipur, Lucknow, Patna, and Chandigarh.
Global crude oil prices, wey had surged to as high as $120 per barrel during US-Iran war, now fall to more than 4-month low. Despite this sharp decline, retail prices of petrol and diesel for India remain unchanged. Crude prices remain below $87 per barrel since June 1, a level wey oil companies dey consider as break-even. This mean them dey make profits continuously for past 36 days.
The US-Iran war begin on February 27 and remain at peak for next 40 days, including entire month of March. Crude oil prices witness steepest rise during this period. After first ceasefire come into effect on April 8, sharp rally ease, and crude prices stay below $115 per barrel.
Even during period of steepest price surge, financial performance of oil companies remain strong. For January–March 2026 quarter, combined profit of India four largest oil companies dey 22% higher than same quarter of 2024–25. This quarter include 33 days of most intense phase of war, when Indian crude basket touch $157 per barrel.
By January 2023, crude drop to $75 per barrel, but fuel prices remain unchanged. Oil companies say them dey recover past losses. Manoranjan Sharma, Chief Economist of Infomerics Ratings, claim say oil companies dey position to cut fuel prices based on their balance sheets, but continue to cite past losses and future risks. He say pricing decisions prioritize company balance sheets over consumer relief.
Although crude mostly remain for $60–70 range since then, fuel prices barely change. Sharma say governments appear believe consumers don become accustomed to high fuel prices. Before COVID-19, ₹70–80 per litre dey considered comfortable petrol price. Now, around ₹110 per litre don become new normal. He add say whenever crude prices fall enough to justify cuts, Centre and states likely to raise taxes to protect their revenues.
