Petrol and Diesel Prices Announced for January 31: Stability Offers Relief to Consumers

India’s fuel consumers woke up to fresh price updates on January 31, 2026, as OMCs released the latest petrol and diesel rates at 6 AM. The daily revision system ensures transparency, aligning domestic prices with international crude oil trends and rupee-dollar exchange rates.

Despite geopolitical tensions and crude oil volatility, fuel prices in India have remained stable since the government’s tax cuts in May 2022. Ahead of the Union Budget 2026, this stability provides relief to households and businesses, though global energy cooperation and tariff pressures may influence future adjustments.

Key Highlights

• Delhi: Petrol ₹94.72/litre, Diesel ₹87.62/litre
• Mumbai: Petrol ₹104.21/litre, Diesel ₹92.15/litre
• Chennai: Petrol ₹100.75/litre, Diesel ₹92.34/litre
• Kolkata: Petrol ₹103.94/litre, Diesel ₹90.76/litre
• Other Cities: Hyderabad ₹107.46/litre (petrol), Bengaluru ₹102.92/litre (petrol)

Drivers of Price Stability:

• Global crude oil fluctuations balanced by domestic tax policies.
• Daily revision mechanism ensures real-time alignment with international markets.
• Anticipation of Budget 2026 may influence future fuel taxation.

Sources: News18, India Today, Business Standard