Fuel prices for petrol and diesel across India's leading cities stayed stable on March 17, 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 | 94.49 | 90.17 |
| Hyderabad | 107.50 | 95.70 |
| Patna | 105.65 | 91.49 |
| Bengaluru | 102.99 | 91.06 |
| Lucknow | 94.69 | 90.17 |
Global Oil Prices
Oil prices edged higher on Tuesday, recovering from their first decline in nearly a week, as traders recalibrated expectations around supply disruptions stemming from the ongoing Iran conflict. Brent crude climbed back towards the $102-per-barrel mark, while US benchmark West Texas Intermediate hovered near $95.
The rebound follows a sharp sell-off in the previous session, when prices dropped nearly 3% on signs that some oil shipments were still managing to pass through the Strait of Hormuz - a critical artery for global energy trade that has been under severe strain since hostilities escalated late last month.
As global energy prices continue to rise, US President Donald Trump urged countries that rely on trade through the Strait of Hormuz to come together and form a coalition to safeguard commercial vessels navigating the disputed route.
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.
Addressing the Lok Sabha, Puri explained that the Central government has implemented several initiatives to strengthen India's energy resilience and guarantee steady access to petroleum products, liquefied petroleum gas, and natural gas.
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.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.