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nued volatility in global crude oil markets and ongoing geopolitical tensions impacting energy supplies.Fuel prices witnessed a significant hike in May, with petrol and diesel rates increasing by more than ?2.50 per litre on May 25. Since mid-May, cumulative revisions have pushed retail fuel prices higher by nearly ?7.50 per litre, taking fuel costs to their highest levels in more than two years.Crude Oil Prices Rebound Amid Supply ConcernsGlobal oil prices edged higher on Tuesday as markets assessed uncertainties surrounding a preliminary agreement aimed at ending the conflict between the United States and Iran. Investors remain concerned over the lack of clarity regarding the agreement and the potential delay in restoring normal crude oil shipments through the strategically important Strait of Hormuz.Brent crude futures rose 26 cents, or 0.3%, to $83.42 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 46 cents, or 0.3%, to $81.12 per barrel.The rebound followed a sharp decline on Monday when oil prices fell nearly 5% to their lowest closing level since March. The drop came after U.S. President Donald Trump announced that a memorandum of understanding had been signed to end the conflict involving Iran, raising hopes that oil supplies through the Strait of Hormuz could eventually normalize. The waterway is one of the world's most critical energy corridors and typically handles around 20% of global oil shipments.Petrol Prices in Delhi, Mumbai, Chennai, Kolkata and Other Major CitiesPetrol prices in India continue to vary widely across states and cities due to differences in VAT rates, local taxes, transportation costs, and other regional levies. As of June 16, 2026, petrol prices range from Rs 101.45 per litre in Delhi to Rs 117.11 per litre in Adilabad.India follows a dynamic fuel pricing mechanism under which petrol and diesel rates are revised daily at 6:00 AM based on international crude oil prices, exchange rate movements, refining costs, and market demand. Since petrol and diesel are not covered under the Goods and Services Tax (GST) regime, state taxes remain a major determinant of retail fuel prices.Petrol Prices in Major Metro Cities TodayCityPetrol PriceMumbai₹111.18 per litreKolkata₹113.47 per litreChennai₹107.87 per litreDelhi₹101.45 per litreAmong the major metropolitan cities, Kolkata continues to record the highest petrol price, while Delhi remains the cheapest among the four metros.Why Petrol Prices Differ Across StatesFuel prices differ across India primarily because each state imposes its own Value Added Tax (VAT) and additional levies. Other factors that influence petrol and diesel prices include:* International crude oil prices* Rupee-dollar exchange rate fluctuations* Freight and transportation costs* Refining and distribution expenses* Local taxes and dealer commissionsHow Are Petrol Prices Revised in India?India adopted daily fuel price revisions in June 2017. Under this system, oil marketing companies update petrol and diesel prices every day at 6:00 AM based on changes in global crude oil benchmarks and currency exchange rates. The mechanism helps align domestic fuel prices with international market trends.Check Petrol and Diesel Prices in Your CityConsumers can track the latest petrol and diesel rates in their city through online fuel price portals and mobile applications. Monitoring daily fuel price movements can help vehicle owners and businesses better manage transportation and operating costs.Frequently Asked Questions (FAQs)What is the petrol price in Delhi today?Petrol is priced at Rs 101.45 per litre in Delhi as of June 16, 2026.Which metro city has the highest petrol price today?Among the four major metro cities, Kolkata has the highest petrol price at Rs 113.47 per litre. Across major Indian cities, Hyderabad records a petrol price of Rs 115.69 per litre.Why do petrol and diesel prices vary across states?Fuel prices differ because states levy different VAT rates and local taxes. Transportation and distribution costs also contribute to regional price variations.When are petrol and diesel prices updated?Fuel prices are revised daily at 6:00 AM under India's dynamic pricing mechanism.Are petrol and diesel included under GST?No. Petrol and diesel are currently outside the GST framework and are subject to central excise duty and state-specific taxes.