Indian Fuel Prices Remain Stable Amid Global Volatility

Petrol and diesel prices in India remained unchanged on March 12, 2026, despite sharp fluctuations in global crude oil markets. Crude oil prices recently surged to $115 per barrel, driven by heightened geopolitical tensions and supply concerns.

Fuel prices across major Indian cities have largely stayed stable, with no immediate changes in petrol and diesel prices reported on Wednesday. In Delhi, petrol continues to be priced at Rs 94.77 per litre, while diesel stands at Rs 87.67 per litre. In Mumbai, petrol is retailing at Rs 103.49 per litre and diesel at Rs 90.03 per litre.

Fuel prices in India are revised daily by Oil Marketing Companies (OMCs), including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), based on movements in global crude oil prices and changes in foreign exchange rates.

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Petrol & Diesel Rates for March 11, 2026, are as follows:

• Petrol Rate in Mumbai: Rs 103.49 per litre
• Diesel Rate in Mumbai: Rs 90.03 per litre

Domestic fuel prices have remained largely stable in recent years, with limited movement since May 2022, when the central government and several states reduced excise duties and value-added taxes on fuel. However, global developments continue to be closely monitored as they can eventually influence domestic fuel rates.

Factors Affecting Petrol and Diesel Prices

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• Crude oil prices in international markets
• Rupee–dollar exchange rate, which affects the cost of imported crude
• Taxes imposed by the central and state governments
• Transportation costs and demand–supply dynamics