Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On July 16 | Business News

Last Updated:July 16, 2025, 07:00 IST

Petrol, Diesel Price On July 16: Check City-Wise Rates Across India Including In Delhi, Mumbai And Chennai

Petrol & Diesel Prices Today, July 16

Petrol and Diesel Prices on July 16, 2025: Oil marketing companies (OMCs) update petrol and diesel prices daily at 6 AM, aligning them with fluctuations in global crude oil prices and currency exchange rates. This daily revision promotes transparency and ensures consumers have access to the most up-to-date and accurate fuel prices.

Petrol Diesel Price Today In India

Check city-wise petrol and diesel prices on July 16:

Key Factors Behind Petrol and Diesel Rates

Petrol and diesel prices in India have remained unchanged since May 2022, following tax reductions by the central and several state governments.

Oil Marketing Companies (OMCs) update fuel prices daily at 6 a.m., adjusting for fluctuations in global crude oil markets. While these rates are technically market-linked, they are also influenced by regulatory measures such as excise duties, base pricing frameworks, and informal price caps.

Key Factors Influencing Fuel Prices in India

• Crude Oil Prices: Global crude oil prices are a primary driver of fuel prices, as crude is the main input in petrol and diesel production.

• Exchange Rate: Since India relies heavily on crude oil imports, the value of the Indian rupee against the US dollar significantly affects fuel costs. A weaker rupee typically translates to higher prices.

• Taxes: Central and state-level taxes constitute a major portion of retail fuel prices. Tax rates vary across states, leading to regional price differences.

• Refining Costs: The cost of processing crude oil into usable fuel impacts retail prices. These costs can fluctuate depending on crude quality and refinery efficiency.

• Demand-Supply Dynamics: Market demand also influences fuel pricing. Higher demand can push prices up as supply adjusts to consumption trends.

How to Check Petrol and Diesel Prices via SMS

You can easily check the latest petrol and diesel prices in your city through SMS. For Indian Oil customers, text the city code followed by “RSP” to 9224992249. BPCL customers can send “RSP” to 9223112222, and HPCL customers can text “HP Price” to 9222201122 to receive the current fuel prices.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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