Petrol and diesel prices across India remained largely unchanged on Wednesday, with motorists in major cities paying similar pump rates for the second consecutive day amid stable domestic pricing and global crude volatility. Retail prices are updated daily at 6 a.m. under India’s dynamic fuel pricing system.
Key Highlights
- Fuel prices remain unchanged across major cities despite global crude oil volatility.
- Hyderabad records highest petrol price, Chandigarh offers lowest diesel rate today.
- State VAT and logistics costs drive inter-city fuel price differences.
City-Wise Fuel Rates (March 4, 2026)
- Petrol: In New Delhi, petrol is priced at ₹94.72 per litre, while in Mumbai it stands at ₹104.21/litre. In Hyderabad, it climbs to ₹107.46/litre — the highest among major metros — reflecting inter-city variations driven by state VAT and logistics costs. Other key cities include Kolkata at ₹103.94/litre, Chennai at ₹100.75/litre, Bengaluru at ₹102.92/litre and Jaipur at ₹104.72/litre.
- Diesel: Diesel rates are also steady, with ₹87.62/litre in New Delhi and ₹92.15/litre in Mumbai. In Chennai and Kolkata, diesel prices are ₹92.34 and ₹90.76/litre respectively, while Hyderabad records ₹95.70/litre. Bengaluru stands at ₹89.02/litre, whereas Chandigarh reports one of the lowest diesel rates at ₹82.45/litre.
Fuel prices vary significantly across states and cities due to state VAT variations and distribution costs. Refiners like Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to revise prices daily, reflecting global crude movements and rupee-dollar trends.
Global Oil Uncertainty and Domestic Context
Although domestic pump prices have remained stable in recent days, international crude oil markets are showing volatility. Tensions in the Middle East have pushed Brent crude close to USD 80 per barrel, raising concerns about potential upward pressure on fuel costs later this month. Experts say persistent geopolitical tensions affecting supply routes may eventually be passed onto local prices if crude remains elevated.
In a related development, the government announced that from April 1, 2026, all petrol sold in India must adhere to new quality standards — E20 petrol with a minimum RON of 95, a move geared toward cleaner and more sustainable fuel usage.
Also Read: Iran Conflict Sends Oil Prices Soaring, Raising Concerns in India
Consumer Impact and Industry Response
Transporters and daily commuters continue to monitor prices closely, as even minor changes in petrol and diesel costs can influence inflation, logistics expenses and travel budgets. Though fuel accounts for a significant portion of operational costs for businesses and the public, stable prices have offered short-term relief amid broader economic pressures.
As analysts keep an eye on global oil benchmarks and their eventual impact on domestic prices, consumers are advised to check local fuel rates regularly and plan travel and budgeting accordingly.
