Petrol and diesel prices across major Indian cities remained unchanged on March 27, 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 | 90.30 |
| Hyderabad | 107.46 | 95.70 |
| Patna | 105.71 | 91.49 |
| Bengaluru | 102.96 | 90.99 |
| Lucknow | 95.34 | 88.50 |
ALSO READ: Brent Crude Pulls Back To Below $106 As Trump's Iran Deadline Extension Tempers Rally
Global Oil Prices
Oil prices retreated on Friday after US President Donald Trump extended the timeline for possible action against Iran's energy infrastructure, giving markets a brief breather after days of sharp gains. Brent crude slipped to below $106 a barrel, while West Texas Intermediate was near $94 a barrel in early trade. The pullback came after a massive run-up in prices, with Brent having surged more than 45% so far this month.
The immediate trigger was Trump's decision to allow Tehran 10 days instead of seven, stretching the revised deadline to April 6. For traders, that reduces the odds of an immediate escalation — but only for now.
By the second week of March, at least 85 countries raised petrol prices following the US-Iran war, according to data from Global Petrol Prices that analysed rates of 150 countries.
Amid reports of panic buying and long queues at petrol pumps and LPG distributors, the Ministry of Petroleum and Natural Gas, for the first time since the war in West Asia broke out, released stock details of crude oil, fuels and LPG as it rushed to calm nerves. Parallely, state-owned oil marketing companies also said there is no shortage of petrol, diesel or liquefied petroleum gas (LPG) and supplies remain stable.
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.
Get all the latest updates on the US, Israel-Iran war here.
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