Overview

• State-run OMCs review petrol and diesel rates at 6 AM every day, aligning retail prices with global crude oil trends and rupee-dollar exchange movements.
• Central excise duty cuts and state VAT reductions introduced in May 2022 have kept retail fuel rates unchanged despite daily market-linked revisions.
• As of June 30, petrol and diesel prices stood at Rs 94.72 and Rs 87.62 per litre in New Delhi and at Rs 103.50 and Rs 90.03 per litre in Mumbai.
• The dynamic pricing framework factors in international crude costs, currency swings, demand projections and trade flows to guide rate adjustments.
• Consumers can use SMS services to check current fuel prices by texting city codes with “RSP” to 9224992249 for Indian Oil, sending “RSP” to 9223112222 for BPCL or texting “HP Price” to 9222201122 for HPCL.