Fuel Prices Rise: Petrol Price Increase of Rs 5 Confirmed in Some Cities

Petrol and Diesel Prices Remain Stable in India

Key Figures:

• Rs 94.77 per litre: petrol price in Delhi
• Rs 87.67 per litre: diesel price in Delhi
• Rs 103.49 per litre: petrol price in Mumbai
• Rs 90.03 per litre: diesel price in Mumbai

Fuel Prices in India

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

On March 27, 2026, fuel rates across major Indian cities remained largely unchanged, extending the period of stability in retail prices maintained by state-run oil companies. However, Nayara Energy, a private fuel retailer, increased petrol prices by Rs 5 per litre and diesel by Rs 3 per litre, citing elevated crude oil prices due to the ongoing West Asia conflict.

Oil Marketing Companies (OMCs)

The three major oil marketing companies in India, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), continue to revise fuel prices daily to align with global crude oil movements and currency exchange rates. Despite recent volatility in international oil markets, these companies have not made any changes to retail fuel prices.

Price Variations by City

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Petrol prices remain above Rs 100 per litre in most locations, including Mumbai, Bengaluru, Hyderabad, and Kolkata, while diesel prices continue to remain below the Rs 100 mark in these cities.

Factors Affecting Petrol and Diesel Prices

Retail fuel prices in India are influenced by several factors, including:

• Crude Oil Prices: The price of crude oil in international markets is the primary driver of fuel prices.
• Rupee-Dollar Exchange Rate: A weaker rupee can increase the cost of imported crude, potentially pushing up fuel prices.
• Taxes: Taxes imposed by the central and state governments form a major component of petrol and diesel prices, which is why fuel rates vary from state to state.
• Transportation Costs: Transportation costs and demand-supply dynamics also influence the final retail price paid by consumers.