Fuel Prices Hold Steady in India
Despite rising global crude prices, retail fuel rates across major Indian cities remained unchanged on March 30, 2026.
Delhi: Petrol – ₹94.77/litre, Diesel – ₹87.67/litre
Mumbai: Petrol – ₹103.54/litre, Diesel – ₹90.03/litre
The stability in prices comes after the government announced a significant ₹10 per litre excise duty cut on both petrol and diesel last week.
Government Steps In to Cushion Impact
To mitigate the burden on consumers and oil companies, the government introduced several key measures:
Excise duty reduced by ₹10 per litre on petrol and diesel
Export duty imposed:
Diesel: ₹21.50 per litre
Aviation Turbine Fuel (ATF): ₹29.50 per litre
These steps aim to maintain domestic supply while partially offsetting the financial strain on oil marketing companies (OMCs).
Heavy Losses for Oil Companies
Public sector OMCs such as Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) are currently selling fuel below cost.
Estimated losses:
Petrol: ₹26 per litre
Diesel: ₹81.90 per litre
Combined daily under-recovery: करीब ₹2,400 crore
The excise duty cut is helping absorb part of these losses, enabling companies to maintain current retail prices.
India vs Global Fuel Price Trends
India’s price stability stands in contrast to global trends:
South & South-East Asia: Prices up by 30–50%
North America: Increase of ~30%
Europe: Rise of ~20%
Supply Situation Remains Stable
The government has reassured citizens that fuel supplies are sufficient:
Refineries operating at elevated capacity levels
Adequate crude stocks available
Petrol pumps functioning normally across the country
Authorities also urged the public to avoid panic buying after isolated incidents of crowding at fuel stations due to misinformation.
LPG and Natural Gas Supply Update
In the gas sector, the government has prioritized essential consumption:
CNG & PNG: Full supply ensured
Industrial users: Receiving ~80% supply
Fertiliser sector: 70–75% allocation
Efforts are underway to procure additional LNG cargoes and expand city gas infrastructure.
Boost to PNG Adoption
To strengthen long-term energy security:
Over 2.9 lakh new PNG connections added in March
Companies like Indraprastha Gas, Mahanagar Gas, GAIL Gas, and BPCL offering incentives
Push towards transitioning from LPG to piped gas
LPG Supply and Monitoring
Although global tensions have affected LPG availability:
Daily delivery exceeds 55 lakh cylinders
Commercial LPG supply recovered to ~70% of normal levels
Strict monitoring to prevent hoarding and black marketing
Nearly 2,900 inspections conducted and 1,000 cylinders seized
Government Advisory
The government has reiterated that:
“There are adequate stocks of petrol, diesel, and LPG across the country. Citizens are advised not to believe rumours or engage in panic buying.”
State governments have been directed to strengthen oversight, counter misinformation, and accelerate approvals for gas infrastructure projects.
