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Petrol and diesel prices across India remained unchanged on Friday, July 24, even as international crude oil prices surged past the $100 per barrel mark, driven by escalating geopolitical tensions in West Asia and renewed concerns over global oil supply disruptions. Despite the sharp rally in crude, Indian oil marketing companies (OMCs) have not revised retail fuel prices, providing temporary relief to consumers.

Petrol & Diesel Prices Today (July 24, 2026)

The surge in global crude oil prices comes amid heightened tensions in West Asia, raising fears of disruptions to key shipping routes and energy supplies. Brent crude has crossed the $100-per-barrel mark for the first time in months, increasing pressure on oil-importing countries like India. However, domestic fuel prices have remained insulated from the immediate impact, with oil companies maintaining existing retail rates despite rising input costs.

India follows a dynamic fuel pricing mechanism, under which petrol and diesel prices are revised daily at 6 AM based on international crude oil prices, exchange rates, refinery costs, freight charges and taxes. Even so, OMCs may choose to absorb short-term fluctuations in global crude prices before passing them on to consumers, especially during periods of extreme market volatility.

Industry watchers will closely monitor global oil markets in the coming days, as any prolonged rise in crude prices could eventually influence domestic fuel rates. For now, motorists across the country continue to benefit from stable petrol and diesel prices despite significant uncertainty in international energy markets.