Petrol and diesel prices in India remained unchanged on March 5, 2026, even as global oil markets faced renewed volatility due to escalating tensions in West Asia and concerns about disruptions in major oil supply routes such as the Strait of Hormuz. Despite the uncertainty in global crude markets, retail fuel prices across major Indian cities have stayed stable.
According to the latest data, Hyderabad continues to record the highest petrol and diesel prices among India’s major metropolitan cities, while New Delhi remains the cheapest. Experts say that while prices have remained stable for now, prolonged volatility in global crude markets could eventually influence retail fuel rates in India.
India Fuel Prices Today Remain Stable Despite Global Oil Volatility
Fuel prices across India have remained largely unchanged since May 2022, when the central government and several state governments reduced fuel taxes to ease the burden on consumers. Oil Marketing Companies (OMCs) revise petrol and diesel prices every day at 6 AM, based on fluctuations in global crude oil prices and currency movements.
However, even though international crude prices have recently surged due to geopolitical tensions, domestic retail fuel prices have not yet reflected these fluctuations. Analysts believe oil companies may be absorbing part of the cost increases for now to maintain price stability.
Petrol Prices in Major Indian Cities Today
Among India’s key metropolitan cities, petrol prices vary significantly due to differences in state taxes and transportation costs.
Image Credit: AI Generated / Representative Image
Petrol Price Today in Major Metros
- Hyderabad: ₹107.46 per litre
- Kolkata: ₹105.41 per litre
- Mumbai: ₹103.54 per litre
- Bengaluru: ₹102.99 per litre
- Chennai: ₹100.80 per litre
- New Delhi: ₹94.77 per litre
The data shows that five out of six major metro cities currently have petrol prices above ₹100 per litre, with Delhi being the only exception. Hyderabad continues to top the list due to higher state taxes imposed in Telangana.
Diesel Prices Today Across Major Indian Cities
Diesel prices also show noticeable variation across Indian metros.
Diesel Price Today in Metros
- Hyderabad: ₹95.70 per litre
- Chennai: Around ₹92 per litre
- Kolkata: Around ₹91 per litre
- Mumbai: Around ₹90 per litre
- Bengaluru: Around ₹88–89 per litre
- New Delhi: ₹87.67 per litre
Similar to petrol prices, Hyderabad has the highest diesel price among major cities, while Delhi offers the lowest diesel rates. Diesel prices are particularly important for the broader economy because they directly influence transportation costs, logistics, and food inflation.
State-wise Fuel Price Extremes in India
Beyond metropolitan areas, fuel prices differ widely across Indian states due to variations in VAT and local taxes.
States With the Highest Petrol Prices
- Andhra Pradesh: ₹109.93 per litre
- Kerala: ₹107.48 per litre
- Telangana: ₹107.46 per litre
Regions With the Lowest Petrol Prices
- Andaman and Nicobar Islands: ₹82.46 per litre
In the case of diesel, Kerala reports the highest price at ₹96.38 per litre, followed by Telangana at ₹95.70 per litre, while Andaman and Nicobar Islands record the lowest diesel price at ₹78.05 per litre.
Global Oil Markets Under Pressure Amid Middle East Conflict
The stability of domestic fuel prices comes despite significant turbulence in global energy markets. Rising geopolitical tensions in the Middle East have raised concerns about disruptions in oil supply routes, particularly the Strait of Hormuz, which handles a substantial portion of global oil shipments.
International benchmark Brent crude oil briefly crossed $85 per barrel earlier this week before easing slightly. Meanwhile, diesel prices in Europe have surged sharply, reportedly rising around 27 percent in recent days due to tightening supply conditions.
If disruptions continue, global oil prices may remain elevated, potentially increasing pressure on fuel-importing countries like India.
India’s Energy Security and Oil Reserves
The Indian government has reassured consumers that there is no immediate risk of fuel shortages. Officials say the country maintains adequate reserves to manage temporary supply disruptions.
According to government estimates:
- India has roughly 25 days of crude oil reserves.
- The country also holds around 25 days of refined fuel stock.
Some estimates suggest that when strategic petroleum reserves and commercial stocks are combined, India could have around 74 to 90 days of oil coverage under normal demand conditions.
Petroleum Minister Hardeep Singh Puri has stated that the country’s fuel supply remains secure and consumers should not worry about shortages of petrol, diesel, or cooking gas.
Could Petrol Prices Increase Soon?
Energy experts warn that while retail fuel prices are currently stable, sustained increases in global crude oil prices could eventually lead to adjustments in domestic fuel rates.
Several factors determine petrol and diesel prices in India:
- International crude oil prices
- Refining and transportation costs
- Supply and demand dynamics
- Exchange rate movements of the Indian rupee
- Central and state taxes
If crude prices remain high for an extended period, Oil Marketing Companies may gradually adjust pump prices to maintain margins.
Final Outlook
For now, petrol and diesel prices in India remain stable despite rising global uncertainty in oil markets. Hyderabad continues to record the highest fuel prices among major metros, while Delhi remains the cheapest.
However, the evolving geopolitical situation in West Asia and potential disruptions to oil supply routes could influence fuel prices in the coming weeks. Consumers, policymakers, and investors alike will be closely watching global crude prices, currency movements, and government policy decisions to understand the future trajectory of India’s fuel prices.
Disclaimer: Fuel prices mentioned in this article are based on publicly available data and may change depending on revisions by Oil Marketing Companies (OMCs) and government policies.
