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Petrol-Diesel Prices Today (August 3): Oil Marketing Companies (OMCs) have not changed petrol and diesel prices today; rates remain stable at previous levels.

Petrol-Diesel Prices Today (August 3): There has been no change in fuel prices in India today, the first day of the week. In Delhi, the price of petrol is ₹102.12 per litre and diesel is ₹95.20 per litre, while in Mumbai, the prices are ₹111.21 and ₹97.83 per litre, respectively.

Oil prices had previously dropped following a new phase of tension between the US and Iran, driven by the expectation that shipping through the Strait of Hormuz would face no disruptions. Domestic fuel prices have remained stable since May 25. At that time, petrol prices had been raised by ₹2.61 per litre and diesel prices by ₹2.71 per litre.

Continuous fluctuations in crude oil

It is noteworthy that prices remain stable even while global crude oil prices are volatile due to geopolitical tensions and supply-related concerns. India imports over 85% of its crude oil requirements. However, domestic fuel prices do not always move in lockstep with international crude prices; retail prices are also influenced by factors such as exchange rates, transportation costs, dealer commissions, and taxes.

City-wise petrol and diesel prices