Fuel prices across major Indian cities have remained largely unchanged compared to the previous day, even after the government on Friday cut excise duty on petrol to ₹3 per litre and fully exempted diesel from the duty.
The government’s decision to sharply cut excise duty on petrol and diesel was aimed at giving relief to state‑run oil marketing companies that were under severe financial strain from rising global crude oil prices triggered by the ongoing US–Iran conflict and tensions in the Strait of Hormuz.
The move was aimed at preventing a rise in fuel prices following a nearly 50 percent jump in global oil rates over the past month. However, state-run oil marketing companies such as IOCL, BPCL, and HPCL are using the tax relief to offset their own losses instead of passing on the benefit to consumers, keeping retail prices steady for now.
Petrol, diesel prices today: Check the table here
City Petrol Price Diesel Price New Delhi ₹ 94.77 ₹ 87.67 Bangalore ₹ 102.96 ₹ 90.99 Patna ₹ 105.23 ₹ 91.49 Mumbai ₹ 103.54 ₹ 90.03 Chennai ₹ 100.85 ₹ 92.81 Ahmedabad ₹ 94.63 ₹ 90.61 Pune ₹ 103.95 ₹ 90.03
International oil benchmarks spiked earlier this month following the Middle East conflict, though they eased slightly after a 10-day strike pause was announced. As of March 27, 2026, prices remain volatile, with Brent Crude trading between $107.81 and $114.81 per barrel, and WTI Crude ranging from $96.48 to $98.24 per barrel.
The Middle East conflict, and the resulting tension in the Strait of Hormuz, a key route for major oil and gas producers has quickly affected Asian economies. Within days, many countries experienced long petrol station queues, rising fuel prices, and hoarding. Some have even introduced measures such as four-day workweeks to curb fuel consumption.
U.S. ships carrying roughly 2,500 Marines trained in amphibious operations have arrived in the Middle East region, making the largest American military presence there in over two decades.
Additionally, at least 1,000 paratroopers from the 82nd Airborne Division, skilled in landing in hostile territory to secure strategic positions and airfields, have been deployed to the Middle East, AP reported.
Also Read | West Asia conflict: India and Saudi Arabia call for secure shipping lanes
Union Home Minister Amit Shah on Friday said that there is no shortage of LPG cylinders or fuel in India, stating that the country has successfully maintained both supplies and stable prices despite a surge in global oil rates driven by geopolitical tensions.
In an interview on Times Now Summit, Shah said the prime minister has assured that there will be no lockdown. "We are ensuring uninterrupted supply while maintaining business as usual in the country," he said, as reported by PTI.
Urging people to trust the Narendra Modi government, Shah said that when retail prices across the globe are increasing, India is the only country where there is no increase in petrol and diesel prices.
Union Coal Minister G. Kishan Reddy on Saturday assured the public that petroleum products, including petrol and diesel, remain readily available despite the military conflict in West Asia, stressing that there is no need for panic.
Reddy, who led a review meeting with Oil Marketing Companies (OMCs) and Dealer Associations to evaluate the supply situation in Telangana, noted that recent international tensions have put pressure on global petroleum supply chains and contributed to price volatility.