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Petrol Diesel Prices Remain Stable
New Delhi: Petrol and diesel prices across India stayed steady on April 28, 2026, offering temporary relief to consumers despite ongoing volatility in global oil markets. Oil marketing companies (OMCs) continue to revise fuel rates daily at 6 AM, aligning them with international crude prices and currency fluctuations. However, no changes have been made to retail prices in major cities.
Crude oil prices have been fluctuating sharply due to escalating geopolitical tensions in West Asia, particularly involving Iran, Israel and the United States. Concerns over potential disruptions in the Strait of Hormuz a critical route for nearly one-fifth of the world’s oil supply have added to market instability.
Despite global uncertainty, Indian authorities have indicated that domestic fuel prices are likely to remain stable in the near term. Oil companies are reportedly absorbing part of the cost fluctuations to prevent sudden price shocks, helping to manage inflation and protect consumers.
Fuel prices continue to vary across cities due to differences in local taxes and levies. In New Delhi, petrol is priced at Rs 94.72 per litre and diesel at Rs 87.62. Mumbai records higher rates at Rs 104.21 for petrol and Rs 92.15 for diesel. Other metros such as Chennai, Kolkata and Bengaluru also show variations reflecting regional taxation policies.
Although fuel prices are linked to global crude rates, factors such as state-level VAT, central excise duty, and transportation costs contribute to regional differences. Prices have largely remained stable since tax cuts introduced in 2022.
While regular fuel prices are unchanged, premium variants have witnessed increases. Indian Oil recently raised the price of its high-octane XP100 petrol, commonly used in luxury vehicles. The premium diesel variant has also become more expensive.
Private fuel companies have begun revising prices upward. In cities like Bengaluru, significant hikes have been observed in both petrol and diesel rates, reflecting the impact of rising crude prices on margins.
The possibility of future price hikes remains uncertain. Rising global crude oil prices and a weakening rupee are putting pressure on OMCs. If these trends persist, revisions in retail fuel prices may become unavoidable.
