New Delhi: Oil marketing companies across India released the latest petrol and diesel prices on the morning of March 13, 2026. Despite a sharp rise of more than 8% in global crude oil prices and the Indian rupee hitting a record low, fuel prices in the country have remained unchanged for now, bringing temporary relief to consumers.
Petrol and Diesel Prices in Major Cities (Per Litre)
| City | Petrol (₹) | Diesel (₹) |
|---|---|---|
| New Delhi | 94.72 | 87.62 |
| Mumbai | 104.21 | 92.15 |
| Kolkata | 103.94 | 90.76 |
| Chennai | 100.75 | 92.34 |
| Bengaluru | 102.92 | 89.02 |
| Hyderabad | 107.46 | 95.70 |
| Lucknow | 94.69 | 87.80 |
| Patna | 105.58 | 93.80 |
Crude Oil Crosses $100 — Why Are Prices Still Stable?
Global oil prices have surged due to rising tensions in the Middle East, especially around the Strait of Hormuz, along with attacks on oil tankers in Iraq. However, fuel prices in India have remained stable for three key reasons:
1. Oil Companies’ Profits:
Government-owned oil companies have earned strong profits over the past few months, which are currently acting as a financial buffer to absorb rising crude costs.
2. Strategic Oil Reserves:
The Indian government has maintained strategic petroleum reserves to deal with supply disruptions and has also been sourcing crude oil from alternative routes and countries outside the Hormuz route.
3. Inflation Control:
The government is trying to prevent fuel price hikes during this sensitive period so that rising fuel costs do not increase inflation or household expenses for common citizens.
Could Fuel Prices Rise in the Future?
Experts warn that this relief may be temporary. If crude oil prices rise to $110–$120 per barrel, it may become difficult for oil companies to keep retail fuel prices unchanged.
For now, the 30-day license issued by the United States allowing the purchase of Russian oil has helped stabilize the market slightly, but the global oil situation remains uncertain.
