Fuel Price Update

Petrol and Diesel Prices Remain Stable in India

As of March 17, 2026, fuel prices across major Indian cities have remained largely unchanged, extending the recent trend of stability in domestic petrol and diesel prices. Despite continued volatility in global crude oil markets, the three major oil marketing companies (OMCs) - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) - have not revised prices.

Current Fuel Prices

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• Delhi:
  • Petrol: ₹ 94.77 per litre
  • Diesel: ₹ 87.67 per litre
• Mumbai:
  • Petrol: ₹ 103.49 per litre
  • Diesel: ₹ 90.03 per litre

Factors Influencing Fuel Prices

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

• Crude Oil Prices: The price of crude oil in international markets, as crude is the primary raw material used to produce petrol and diesel.
• 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, resulting in varying fuel rates from state to state.
• Transportation Costs: Costs associated with transporting crude oil and fuel across the country.
• Demand-Supply Dynamics: The balance between fuel demand and supply affects the final retail price paid by consumers.

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Recent Trends

Retail fuel prices in India have seen limited movement since May 2022, when the central government and several states reduced excise duties and value-added taxes on fuel. Despite ongoing geopolitical tensions in West Asia and concerns over potential supply disruptions, fuel prices have continued to hold steady.