Parliament Question: Increase in Petrol and Diesel Prices

LOK SABHA UNSTARRED QUESTION NO. 1923 TO BE ANSWERED ON 30 JULY, 2026 Increase in Petrol and Diesel Prices 1923. SHRI K C VENUGOPAL: पेट(cid:332)ोिलयम और (cid:366)ाकृ ितक गैस मं(cid:361)ी Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state: (a) the total amount of increase in the prices of petrol and diesel during the last four months; (b) the reasons given by the Government/Oil Marketing Companies for the said price increase; (c) whether the international crude oil prices, which had risen sharply following the Iran- Israel conflict and disruption in the Strait of Hormuz, have since declined substantially, if so, the details thereof; (d) whether the Government has taken any steps to ensure a corresponding reduction in the retail prices of petrol and diesel in line with the fall in international crude oil prices, if so, the details thereof and if not, the reasons therefor; and (e) the time by which the Government proposes to review and reduce domestic fuel prices to pass on the benefit of falling crude oil prices to the common consumer? ANSWER पेट(cid:332)ोिलयम और (cid:366)ाकृ ितक गैस मं(cid:361)ालय म(cid:336) रा(cid:475) मं(cid:361)ी ((cid:373)ी सुरेश गोपी) MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI SURESH GOPI) (a) to (e): Prices of petrol and diesel in the country are market-determined and the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel. India imports around 88% of its crude oil requirements. Since March 2026, due to the West Asia crisis, international crude oil prices have risen significantly. Crude oil prices (Indian basket) increased to USD 136.68/barrel during March 2026 and have continued to fluctuate due to various geopolitical and market factors. The geopolitical situation continues to be highly volatile. Even as of 23rd July 2026, crude oil prices were USD 103.33/barrel. Despite incurring significant under recovries on sale of petrol and diesel, their prices were increased only marginally by the PSU OMCs. The current RSP of Petrol and Diesel are Rs.102.12 and Rs. 95.20 per litre respectively (Delhi prices).The details of increase/decrease in Retail Selling Prices (RSP) of petrol and diesel at Delhi since 01.04.2026 are given below: (Rs./Litre) Price effective from Petrol Diesel As on 01.04.2026 94.77 87.67 15.05.2026 97.77 90.67 19.05.2026 98.64 91.58 23.05.2026 99.51 92.49 25.05.2026 102.12 95.20 Source: Petroleum Planning and Analysis Cell (PPAC) The details of monthly average prices of Indian Basket of Crude Oil since April 2026 are given below: (USD/Barrel) Average price of Crude Oil Month (Indian Basket) Apr-26 114.48 May-26 106.23 Jun-26 83.22 Source: Petroleum Planning and Analysis Cell (PPAC) Further, to protect consumers from its impact, in March 2026, Government reduced the excise duty on petrol and diesel by Rs. 10 per litre each, but at the same time resulting in a substantial reduction of its tax revenues. *****