Fuel prices in major Indian cities remained almost unchanged from the previous day, even after the government on Friday cut the excise duty on petrol to ₹3 per liter and diesel completely exempt from duty.
The government’s decision to sharply cut excise duty on petrol and diesel was aimed at providing relief to state-owned oil marketing companies, which have been under severe financial pressure due to rising global oil prices triggered by the ongoing conflict between the US and Iran and tensions in the Strait of Hormuz.
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The move was aimed at preventing fuel prices from rising after a nearly 50 percent jump in global oil rates over the past month. However, state-run oil marketing companies like IOCL, BPCL and HPCL are using tax breaks to offset their own losses instead of passing on the benefits to consumers, thus keeping retail prices stable for now.
Gasoline, diesel prices today: Check the table here
CityPetrol PriceDiesel PriceNew Delhi ₹94.77 ₹87.67 Bangalore ₹102.96 ₹90.99 Patna ₹105.23 ₹91.49 Mumbai ₹103.54 ₹90.03 chennai ₹100.85 ₹92.81 Ahmedabad ₹94.63 ₹90.61 Put ₹103.95 ₹90.03
International oil benchmarks rose earlier this month following the conflict in the Middle East, although they eased slightly after the announcement of a 10-day strike pause. As of March 27, 2026, prices remain volatile, with Brent trading between $107.81 and $114.81 per barrel and WTI crude trading between $96.48 and $98.24 per barrel.
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The conflict in the Middle East and the resulting tensions in the Strait of Hormuz, a key route for major oil and gas producers, have quickly hit Asian economies. Within days, many countries experienced long queues at petrol stations, rising fuel prices and hoarding. Some have even introduced measures such as a four-day work week to reduce fuel consumption.
US ships carrying roughly 2,500 marines trained in amphibious operations have arrived in the Middle East region, the largest US military presence in more than two decades.
In addition, at least 1,000 paratroopers from the 82nd Airborne Division, who are skilled in landing on enemy territory to secure strategic positions and airfields, have been deployed to the Middle East, the AP reported.
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Union Home Minister Amit Shah on Friday said there is no shortage of LPG cylinders or fuel in India, saying the country has been successful in maintaining supply and stable prices despite a rise in global oil rates due to geopolitical tensions.
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Speaking to Times Now Summit, Shah said that the Prime Minister had assured that there would be no lockdown. “We are ensuring uninterrupted supplies while maintaining business as usual in the country,” he said, as reported by PTI.
Urging people to trust the Narendra Modi government, Shah said that while retail prices are rising across the world, India is the only country where there is no hike in petrol and diesel prices.
Union Coal Minister G. Kishan Reddy on Saturday assured the public that petroleum products, including petrol and diesel, remained readily available despite the military conflict in West Asia, stressing that there was no need to panic.
Reddy, who led a review meeting with oil marketing companies (OMCs) and dealer associations to assess the supply situation in Telangana, noted that recent international tensions have put pressure on global oil supply chains and contributed to price volatility.
(With input from agencies)
