Petrol and Diesel Prices Remain Steady Amid Rising Crude Oil Costs on March 10

India Fuel Prices Remain Unchanged Amid Global Oil Price Surge

March 10, 2026

Despite a sharp increase in global crude oil prices, petrol and diesel prices in India remained unchanged on March 10, 2026. International benchmark Brent crude recently surged past the $100-per-barrel mark for the first time since 2022, briefly rising above $114 a barrel due to concerns over supply disruptions in the wake of the ongoing US-Iran conflict. However, the rise in global oil prices has not yet translated into changes in domestic retail fuel rates.

Retail Fuel Rates in Major Metropolitan Cities

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

• Delhi: Petrol - Rs 94.77 per litre, Diesel - Rs 87.67 per litre
• Mumbai: Petrol - Rs 103.49 per litre, Diesel - Rs 90.03 per litre
• Other major metro cities: Petrol prices above Rs 100 per litre, Diesel prices below Rs 100 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. The 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.

Factors Influencing Petrol and Diesel Prices in India

• International crude oil prices: Primary raw material used to produce petrol and diesel
• Rupee–dollar exchange rate: Affects the cost of imported crude
• Taxes imposed by the central and state governments: Varying from state to state
• Transportation costs and demand–supply dynamics: Can affect the final retail price of fuel

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