Petrol and diesel prices across major Indian cities remained unchanged on March 24, even as global crude oil benchmarks edged higher amid rising geopolitical tensions in West Asia and disruptions to key maritime trade corridors. The ongoing Middle East conflict—having entered its its fourth week—began on February 28 after joint US‑Israel airstrikes on Iran, which triggered retaliatory action from Tehran and pushed the region into renewed turmoil.
The bulk rate for industrial diesel supplied to commercial users has been increased by Rs 21.92 per litre — about a 25% jump — while premium petrol prices have gone up by Rs 2 per litre.
In the national capital, petrol is still selling at Rs 94.77 per litre, while diesel is priced at Rs 87.67 per litre. Rates are comparatively steeper in Mumbai, where petrol is being sold at Rs 103.54 per litre and diesel at about Rs 90.03 per litre.
Across most major metropolitan centres, including Bengaluru, Hyderabad and Kolkata, petrol prices continue to hover above the Rs 100-per-litre mark, whereas diesel remains priced below Rs 100. With state elections approaching, the government may prefer to keep auto fuels under control.
| City | Petrol (Rs/Litre) | Diesel (Rs/Litre) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.54 | 90.03 |
| Kolkata | 105.45 | 92.02 |
| Chennai | 100.84 | 92.39 |
| Ahmedabad | 94.49 | 90.16 |
| Hyderabad | 107.46 | 95.70 |
| Patna | 105.71 | 91.49 |
| Bengaluru | 102.96 | 90.99 |
| Lucknow | 95.34 | 88.50 |
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Global Oil Prices
Global oil prices found some footing on Tuesday morning after a volatile start to the week rattled energy markets. Brent crude closed just under $100 on Monday after a steep double-digit fall, while US benchmark West Texas Intermediate hovered near the $90-per-barrel mark for June contracts.
The pause follows a dramatic trading session that saw prices tumble as geopolitical signals swung rapidly, leaving traders struggling to price in risk. Despite the pullback, crude remains significantly elevated, with prices still up more than 30% this month.
India, meanwhile, has asserted that its energy requirements remain well-secured despite significant disruptions in global supply chains. On March 13, Union Petroleum and Natural Gas Minister Hardeep Singh Puri informed Parliament that the nation's energy security remains intact.
Domestic LPG prices were increased by Rs 60 on March 7, 2026, raising the cost of a 14.2‑kg cylinder in Delhi from Rs 853 to Rs 913. Commercial LPG cylinders also saw a significant hike, now priced at approximately Rs 1,884.50 in the capital.
What Drives Petrol and Diesel Prices?
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.
The rupee–dollar exchange rate also influences fuel prices since India imports a large portion of its crude oil requirements.
Additionally, central excise duty and state-level VAT significantly affect the final retail price of petrol and diesel, which is why rates differ across cities.
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