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Petrol and diesel prices released today have once again drawn the attention of millions of Indians, as fuel costs continue to play a crucial role in household budgets and overall inflation. Oil Marketing Companies (OMCs) announced the latest fuel rates at 6 am on January 24, 2026, following the daily pricing mechanism that reflects global crude oil trends and the rupee’s performance against the US dollar.

While fuel prices remained unchanged in several cities today, noticeable variations persist across states due to differences in local taxes and levies. For daily commuters, transport operators, and traders, keeping track of fuel prices has become a routine necessity rather than a choice.

How Daily Fuel Prices Are Decided

India follows a transparent fuel pricing system where petrol and diesel rates are revised every day. These revisions are influenced by international crude oil prices, foreign exchange movements, and domestic taxation policies. Any fluctuation in these factors directly impacts retail fuel prices.

Global crude oil demand, supply disruptions, geopolitical tensions, and production decisions by oil-producing nations can cause prices to rise or fall. Additionally, since India imports most of its crude oil, a weakening rupee makes fuel imports more expensive, eventually pushing retail prices higher.

Petrol and Diesel Prices in Major Indian Cities Today

Here are the latest petrol and diesel prices as of January 24, 2026, across key cities:

• New Delhi: Petrol ₹94.72 | Diesel ₹87.62

• Mumbai: Petrol ₹104.21 | Diesel ₹92.15

• Kolkata: Petrol ₹103.94 | Diesel ₹90.76

• Chennai: Petrol ₹100.75 | Diesel ₹92.34

• Ahmedabad: Petrol ₹94.49 | Diesel ₹90.17

• Bengaluru: Petrol ₹102.92 | Diesel ₹89.02

• Hyderabad: Petrol ₹107.46 | Diesel ₹95.70

• Jaipur: Petrol ₹104.72 | Diesel ₹90.21

• Lucknow: Petrol ₹94.69 | Diesel ₹87.80

• Pune: Petrol ₹104.04 | Diesel ₹90.57

• Chandigarh: Petrol ₹94.30 | Diesel ₹82.45

• Indore: Petrol ₹106.48 | Diesel ₹91.88

• Patna: Petrol ₹105.58 | Diesel ₹93.80

• Surat: Petrol ₹95.00 | Diesel ₹89.00

• Nashik: Petrol ₹95.50 | Diesel ₹89.50

These differences clearly show how state-level taxation significantly affects fuel prices, even when base rates remain similar.

Why Have Fuel Prices Stayed Stable for So Long?

One question frequently asked by consumers is why petrol and diesel prices have remained largely unchanged for nearly two years. Since May 2022, both the central government and several state governments have reduced fuel taxes, helping maintain price stability despite volatility in global oil markets.

Although international crude prices continue to fluctuate, Indian consumers have been somewhat shielded from sharp changes. This stability has provided relief to households and businesses that rely heavily on fuel for daily operations.

Key Factors That Influence Fuel Prices

Several elements collectively determine petrol and diesel prices in India:

Crude Oil Prices: Petrol and diesel are refined from crude oil. Any increase in global crude oil prices directly affects domestic fuel rates.

Exchange Rate Movement: Crude oil imports are paid for in US dollars. A weaker rupee increases import costs, pushing fuel prices higher.

Government Taxes: Central excise duty and state-level VAT make up a large portion of fuel prices. This is why petrol and diesel cost more in some states than others.

Refining and Distribution Costs: Processing crude oil into usable fuel involves refining costs, transportation expenses, and dealer commissions.

Demand and Supply Balance: Seasonal demand, festivals, and weather conditions can impact fuel consumption. Higher demand often leads to price pressure.

How to Check Fuel Prices via SMS

Consumers can easily check fuel prices using SMS services provided by oil companies:

• Indian Oil customers: Send your city code followed by “RSP” to 9224992249

• BPCL customers: Send “RSP” to 9223112222

• HPCL customers: Send “HP Price” to 9222201122

This simple service allows users to access real-time fuel prices without needing internet access.

Final Word

Fuel prices may appear stable on the surface, but they are shaped by a complex mix of global and domestic factors. For consumers, staying informed about daily petrol and diesel rates is essential to manage expenses effectively. Whether today’s prices feel like relief or added pressure largely depends on where you live and how often you travel.

As global markets evolve, fuel prices will continue to remain an important indicator of economic conditions and cost-of-living trends in India.