Petrol, diesel prices today: Amid US-Iran war and continued transit issues via the Strait of Hormuz, countries around the world have been forced to either raise petrol, diesel, gas prices or announce rationing measures. In India, so far petrol and diesel prices have not been hiked by state-run refiners despite global crude oil prices climbing to around $120 per barrel.Last week, the government announced a big excise duty cut on petrol and diesel prices, in effect cushioning consumers from a hike, while also reducing the blow for oil marketing companies.To strengthen domestic supply, the government has reduced excise duty on petrol and diesel by Rs 10 per litre and introduced export duties of Rs 21.50 per litre on diesel and Rs 29.50 per litre on aviation turbine fuel.
Petrol, diesel prices today
Despite a rise in global oil prices on Monday amid growing concerns over escalating tensions in the Middle East, retail prices of petrol and diesel in major Indian cities remained unchanged on March 30, 2026. In the national capital, petrol continued to be priced at Rs 94.77 per litre, while diesel held steady at Rs 87.67 per litre. In Mumbai, petrol was unchanged at Rs 103.54 per litre and diesel at Rs 90.03 per litre.With the excise duty cut in place, retail prices of petrol and diesel will remain unchanged. The reduction is aimed at easing the financial burden on public sector oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. These companies have been selling fuel domestically at prices significantly below their cost of supply. At prevailing global crude levels, their losses are estimated at about Rs 26 per litre on petrol and Rs 81.90 per litre on diesel, translating into a combined daily under-recovery of nearly Rs 2,400 crore. The excise duty cut of Rs 10 per litre helps absorb part of these losses, allowing continued supply without altering pump prices.In comparison with global trends, the situation stands out. Fuel prices have climbed between 30 and 50 per cent across South and South-East Asia, risen by around 30 per cent in North America, and increased by about 20 per cent in Europe since the current crisis began. Meanwhile, the government has intensified efforts to ensure steady availability of fuel and gas following the disruption at the Strait of Hormuz, while appealing to the public not to engage in panic buying after isolated surges were reported at some fuel stations.In an official update on the evolving situation linked to the West Asia conflict, the oil ministry said on Sunday that domestic refineries are operating at elevated capacity levels with sufficient crude stocks, and supplies of petrol and diesel remain adequate across the country. Fuel outlets continue to function normally, although misinformation led to brief spikes in demand in certain regions.“There were certain rumours, which led to panic buying at some retail outlets in a few states, resulting in unusually high sales and heavy crowding at retail outlets. However, it is informed that there are adequate stocks of petrol and diesel available at all petrol pumps in the country,” the ministry said.
LPG, LNG availability
In the natural gas segment, priority allocation has been given to essential sectors, with full supply directed towards piped natural gas and CNG consumers, while industrial and commercial users are receiving around 80 per cent of their usual consumption. Fertiliser units are being supplied at 70 to 75 per cent levels, alongside efforts to procure additional LNG cargoes.The ministry also noted that expansion of city gas networks is being fast-tracked by simplifying approvals and encouraging a transition from LPG to piped natural gas. Over 2,90,000 new PNG connections were added in March, with companies such as Indraprastha Gas, Mahanagar Gas, GAIL Gas and BPCL offering incentives to accelerate adoption.While LPG supply has been affected by geopolitical developments, distribution continues without reported shortages. Daily refill deliveries have exceeded 55 lakh cylinders, and monitoring measures have been tightened to prevent diversion. Supply of commercial LPG has recovered to about 70 per cent of pre-crisis levels, with priority given to hospitality, food services and key industrial users.Additionally, kerosene allocations to states have been increased, and enforcement action against hoarding and black marketing has been stepped up, with nearly 2,900 inspections carried out and around 1,000 cylinders seized recently.State governments have been instructed to enhance oversight, conduct daily reviews, counter misinformation and expedite approvals for gas infrastructure.“The government reiterates its advice to the public not to believe rumours,” the statement said.“The government is making all efforts to ensure the availability of petrol, diesel and LPG. Avoid panic purchases of petrol, diesel and booking of LPG.”
