 (6).png)
3 hours ago
3
ARTICLE AD BOX
The conflict in the Middle East broke out on 28 February after the US and Israel carried out joint strikes against Iran, prompting Tehran to retaliate. The Strait of Hormuz remains effectively closed, affecting global oil prices. Check today's petrol, diesel prices across major Indian cities.
Petrol and diesel prices across major Indian cities remained largely unchanged on Monday, 23 March, despite disruptions to the global oil market due to the conflict in the Middle East.
Although international oil markets have seen significant volatility since the launch of Operation Epic Fury and the consequent stoppage of maritime traffic through the Strait of Hormuz, petrol and diesel prices for regular customers have held steady in India.
The conflict in the Middle East, which is in its fourth week now, broke out on 28 February after the US and Israel carried out joint strikes against Iran, prompting Tehran to retaliate and plunging the region into conflict.
Since then, the Middle East has seen chaos, with Gulf countries routinely intercepting missiles and drones launched by Tehran.
The Strait of Hormuz, a key waterway for global energy trade, has also seen an effective halt in maritime traffic, with Iran threatening strikes against transiting tankers.
Consequently, oil prices have soared globally, with the price of Brent Crude rising from around $70 in late February to $107.11 on Monday.
Industrial diesel, premium petrol price hiked
With rising international crude prices piling pressure on margins, state-run oil marketing companies (OMCs) in India on Friday raised the price of industrial diesel and premium petrol.
Industrial diesel, which is sold in bulk to commercial establishments, saw its price hiked by ₹21.92 a litre—a considerable 25% increase—while the price of premium petrol was raised by ₹2 a litre.
Regular petrol and diesel prices
However, prices of regular petrol and diesel, which make up the bulk of daily sales at pumps, have been left unchanged.
India's three major OMCs — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) — revise prices at 6 am every day to ensure rates align with international crude prices and currency exchange rate movements.
Below are petrol and diesel prices across major Indian cities on Monday, 23 March.
| Delhi | ₹94.77 | ₹87.67 |
| Mumbai | ₹103.54 | ₹90.03 |
| Kolkata | ₹105.45 | ₹92.02 |
| Chennai | ₹100.84 | ₹92.39 |
| Hyderabad | ₹107.46 | ₹95.70 |
| Bengaluru | ₹102.96 | ₹90.99 |
| Lucknow | ₹94.69 | ₹87.81 |
| Ahmedabad | ₹94.49 | ₹90.17 |
What affects petrol and diesel prices in India?
There are myriad factors which influence petrol and diesel prices in India, with the most significant of them being the price of crude oil on global markets.
The rupee-dollar exchange rate also plays a key role in determining the price of petrol and diesel, given the fact that India imports a large share of its crude oil requirements. Simply put, a weaker rupee can increase the cost of imported crude, pushing up domestic fuel prices, or vice-versa.
Another factor is the taxes imposed by the Centre and state governments, which form a major component of petrol and diesel prices, and is responsible for fuel price variations across states.
Transport costs and demand-supply dynamics also influence the final prices of petrol and diesel in India.
English (US) ·