Petrol and Diesel Prices Remain Stable, but Crude Oil Surge Raises Concerns About Future Rate Hikes

Fuel Prices Remain Stable Across Major Indian Cities

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 Price Trends

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Fuel prices across major Indian cities remained largely unchanged on March 30, 2026, despite a sharp surge in global crude oil prices. International benchmark Brent crude has risen by over 50% since the onset of the US-Israel strikes on Iran in late February, briefly touching levels above $115 per barrel.

Oil Marketing Companies

The three major oil marketing companies (OMCs) in India, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), revise fuel prices daily to align with international crude prices and currency exchange rate movements. However, these companies have continued to maintain stable retail prices so far.

Regional Fuel Price Variations

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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. Fuel prices in India are revised daily based on movements in global crude oil prices and changes in foreign exchange rates.

Factors Influencing Fuel Prices

Retail fuel prices in the country are influenced by several factors, including the price of crude oil in international markets, the rupee–dollar exchange rate, taxes imposed by the central and state governments, transportation costs, and demand–supply dynamics.