Petrol and diesel prices on March 14, 2026: Fuel rates across major Indian cities remained largely unchanged on Saturday, even as global crude oil markets continue to witness sharp volatility. The stability in domestic fuel prices comes despite ongoing geopolitical tensions in the Middle East, which have triggered fluctuations in international oil benchmarks.
In Delhi, petrol continues to be priced at Rs 94.77 per litre, while diesel stands at Rs 87.67 per litre. Prices remain higher in Mumbai, where petrol is retailing at Rs 103.49 per litre and diesel at around Rs 90.03 per litre.
Among major metro cities, petrol prices remain above Rs 100 per litre in most locations, including Mumbai, Bengaluru, Hyderabad and Kolkata, while diesel prices continue to remain below the Rs 100 mark in these cities.
Fuel prices in India are revised daily by Oil Marketing Companies (OMCs) based on movements in global crude oil prices and changes in foreign exchange rates. The three major OMCs responsible for fuel pricing and distribution in the country are Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).
Despite volatility in global crude oil markets, petrol and diesel prices in India have remained largely stable over the past few years. Retail fuel prices have seen limited movement since May 2022, when the central government and several states cut excise duties and value-added taxes on fuel.
However, global developments continue to be closely monitored as they can eventually influence domestic fuel rates. Recent movements in crude oil prices have been linked to geopolitical tensions in West Asia, including concerns over possible supply disruptions through the Strait of Hormuz, a critical route for global oil shipments.
What affects petrol and diesel prices in India?
Retail fuel prices in the country are influenced by several factors. The most significant driver is the price of crude oil in international markets, since crude is the primary raw material used to produce petrol and diesel.
The rupee-dollar exchange rate also plays an important role because India imports a large portion of its crude oil requirement. A weaker rupee increases the cost of imported crude, which can eventually impact domestic fuel prices.
Taxes imposed by the central and state governments also form a major part of fuel prices. Since state-level VAT differs across regions, petrol and diesel prices vary from one city to another. Transportation costs and demand–supply dynamics also influence the final retail price paid by consumers.
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