Fuel prices for petrol and diesel across India's leading cities stayed stable on March 18, despite an upward trend in global crude markets driven by escalating geopolitical tensions in West Asia and disturbances to maritime trade routes.
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.
| City | Petrol (Rs/Litre) | Diesel (Rs/Litre) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.54 | 90.03 |
| Kolkata | 105.45 | 92.02 |
| Chennai | 100.80 | 92.39 |
| Ahmedabad | 94.68 | 90.32 |
| Hyderabad | 107.50 | 95.70 |
| Patna | 105.23 | 91.49 |
| Bengaluru | 102.99 | 91.06 |
| Lucknow | 94.69 | 87.81 |
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Global Oil Prices
Oil prices held firm on Wednesday after a sharp surge in the previous session, as escalating geopolitical tensions in the Middle East kept markets on edge. Brent crude traded above $103 per barrel, while US benchmark West Texas Intermediate hovered near $96.
The latest escalation follows Iran's confirmation that Ali Larijani, a senior security official and secretary of the Supreme National Security Council, has been killed. His death marks a significant blow to Iran's wartime leadership and signals a further deterioration in the regional conflict. Markets have responded by pricing in a higher geopolitical risk premium.
India, meanwhile, has asserted that its energy requirements remain well-secured despite significant disruptions in global supply chains. On 13 March, Union Petroleum and Natural Gas Minister Hardeep Singh Puri informed Parliament that the nation's energy security remains intact.
State‑owned oil marketing companies, including Indian Oil Corporation and Bharat Petroleum, are absorbing global price volatility to keep retail fuel prices 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.
CNG prices in Delhi have remained largely unchanged at Rs 77.09 per kg, aside from minor adjustments made earlier in the year.
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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