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Premium petrol prices in India rise by Rs 2-2.3 amid global crude surge, will regular fuel prices be hiked? Check city-wise rate list here
Petrol, Diesel Prices On March 24
Petrol, Diesel Prices on March 24, 2026: Petrol and diesel prices in India remained unchanged on March 24, 2026, even as global oil markets continue to experience sharp volatility amid geopolitical tensions in West Asia. Oil marketing companies (OMCs) update fuel prices daily at 6 AM, aligning them with movements in global crude oil prices and currency exchange rates. The daily revision mechanism is designed to promote transparency and ensure consumers receive the most up-to-date information on retail fuel prices.
However, despite fluctuations in international oil markets, the Indian government has indicated that petrol and diesel prices are expected to remain stable for now, with oil marketing companies absorbing part of the volatility to avoid sudden price shocks for consumers.
Global oil volatility amid Middle East tensions
Global crude prices have been highly volatile in recent days due to the ongoing conflict in the Middle East involving Iran, Israel and the United States. The crisis has raised concerns about potential disruptions to oil shipments through the Strait of Hormuz, a critical energy chokepoint through which nearly 20% of global oil supply passes.
Brent crude briefly surged above $115 per barrel earlier this week before easing after signs of possible de-escalation. The spike in oil prices has heightened fears of a global energy shock and rising inflation in several economies.
Despite the turbulence in global energy markets, Indian authorities have signalled that retail petrol and diesel prices will remain steady in the near term, providing relief to consumers and helping contain inflationary pressures.
Petrol, Diesel Price Today in India
Here are the petrol and diesel prices across major Indian cities on March 24, 2026:
| City | Petrol (₹/L) | Diesel (₹/L) |
|---|---|---|
| New Delhi | 94.72 | 87.62 |
| mumbai | 104.21 | 92.15 |
| Kolkata | 103.94 | 90.76 |
| Chennai | 100.75 | 92.34 |
| Ahmedabad | 94.49 | 90.17 |
| Bengaluru | 102.92 | 89.02 |
| Hyderabad | 107.46 | 95.70 |
| Jaipur | 104.72 | 90.21 |
| Lucknow | 94.69 | 87.80 |
| Pune | 104.04 | 90.57 |
| Chandigarh | 94.30 | 82.45 |
| Indore | 106.48 | 91.88 |
| Patna | 105.58 | 93.80 |
| Surat | 95.00 | 89.00 |
| Nashik | 95.50 | 89.50 |
Why fuel prices differ across cities
Petrol and diesel prices in India have remained unchanged since May 2022, following tax reductions by the central government and several state governments.
Although fuel prices are technically linked to global crude oil prices, they are also influenced by multiple regulatory and economic factors, including taxes and exchange rates.
Petrol Price Hike: Premium Petrol Prices Increased Across Select Cities
Recently, oil marketing companies have raised prices of high-octane petrol variants such as XP95 and Power petrol by around Rs 2 to Rs 2.3 per litre. The hike has come into effect at several fuel stations across the country.
At some outlets, Indian Oil Corporation’s XP95 is now priced at approximately Rs 101.80 per litre. Similarly, premium fuel offered by Hindustan Petroleum Corporation Limited has also become costlier.
Petrol Price Hike: Will Regular Fuel Prices Be Hiked Next?
The big question now is whether regular petrol and diesel prices will also see a hike in the coming days. For now, oil companies appear to be avoiding any increase in widely used fuels due to inflation concerns. However, with global crude oil prices rising sharply and the rupee weakening, pressure on companies like BPCL, HPCL, and IOCL is steadily building.
If international oil prices remain elevated for a prolonged period, oil companies may find it difficult to absorb the losses, and revising regular fuel prices is increasingly likely.
Key factors influencing fuel prices in India include:
Crude oil prices: Global crude oil prices are the primary driver of petrol and diesel rates because crude oil is the key raw material used to produce these fuels.
Exchange rate: India imports a significant portion of its crude oil. Therefore, the value of the Indian rupee against the US dollar plays an important role in determining fuel prices. A weaker rupee generally increases import costs.
Taxes: A large portion of the retail price of petrol and diesel consists of central excise duty and state-level VAT, which vary across states and lead to differences in fuel prices between cities.
Refining costs: The cost of converting crude oil into petrol and diesel also affects retail prices. These costs depend on refinery efficiency and the type of crude oil used.
Demand and supply dynamics: Changes in fuel demand and supply conditions can also influence pricing trends in domestic markets.
How to check petrol and diesel prices via SMS
Consumers can also check the latest fuel prices in their city through SMS.
- Indian Oil customers: Send the city code followed by RSP to 9224992249
- BPCL customers: Send RSP to 9223112222
- HPCL customers: Send HP Price to 9222201122
These services allow users to quickly access the latest petrol and diesel rates without visiting fuel stations.
March 24, 2026, 07:27 IST
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