Petrol and Diesel Prices on March 14, 2026: Petrol and diesel prices in several Indian cities saw a slight price movement, but rates remained mostly unchanged on Saturday. This stability in fuel prices continues even as global oil markets continue to experience sharp volatility amid geopolitical tensions due to conflict in the Middle East.
To align fuel prices with changes in global oil prices and exchange rates, oil marketing companies (OMCs) update fuel prices daily at 6 am. You can check the current prices of petrol and diesel in your city here:
Differences in fuel prices between cities arise due to differences in state taxes.
Impact of West Asian Conflict on Rupee, Foreign Exchange
The impact of the conflict in West Asia is reflected in oil prices, which have risen nearly 37% since the start of the Iran war. The Reserve Bank of India (RBI) intervened to support the rupee amid downward pressure. It is selling US dollars to dampen the rupee, leading to a sharp drop in foreign exchange reserves, the most since November 2024, Bloomberg reported.
The disruption to oil supplies through the Strait of Hormuz has raised concerns about supplies that serve as one of the world’s most critical energy corridors, through which nearly 20% of global oil supplies pass. With oil prices becoming the dominant factor shaping market sentiment, forex inventories fell by $11.68 billion in the week to March 6, according to data released by the RBI on Friday.
Indian authorities have signaled that retail petrol and diesel prices are expected to remain stable for now despite fluctuations in international oil markets. To avoid sudden price shocks to consumers and head off inflationary concerns, oil companies absorb some of the volatility. India imports almost 85% of its oil requirement. Higher oil prices directly increase a country’s import costs.
India’s largest state-owned oil marketing companies will suffer huge losses when selling fuel at current prices, a recent report published by brokerage firm Systematix said. Companies like Indian Oil Corporation (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) are currently losing approx. ₹20 per liter for petrol and around ₹45 per liter of diesel. This is said to translate to the surrounding area ₹2000 million loss every day.
Almost ₹1,650 million of the total daily loss is due to the sale of diesel and ₹A loss of 350 million crowns arose from the sale of gasoline. This suggests that diesel sales are responsible for significantly higher losses compared to petrol at current price levels.
