New Delhi, India — April 18, 2026
Global crude oil prices have dropped sharply, falling below $90 per barrel after a nearly 10% decline, but Indian consumers are yet to see any relief at the fuel pumps.
Despite the international softness, domestic fuel retailers have kept petrol and diesel prices unchanged, reflecting a lag between global trends and retail pricing in India.
Fuel Prices Remain Stable Across Major Cities
In the national capital, petrol and diesel prices continue to hold steady:
📊 Fuel Prices in Major Indian Cities (₹/liter)
| City | Petrol | Diesel |
|---|---|---|
| New Delhi | 94.77 | 87.67 |
| Mumbai | 104.21 | 92.15 |
| Hyderabad | 107.46 | 95.70 |
| Jaipur | 104.72 | 90.21 |
| Chennai | 100.75 | 92.34 |
| Kolkata | 103.94 | 90.76 |
| Lucknow | 94.69 | 87.80 |
| Bengaluru | 94.49 | 89.02 |
| Chandigarh | 94.30 | 82.45 |
| Indore | 106.48 | 91.88 |
| Patna | — | 93.80 |
At the lower end, fuel remains cheapest in Port Blair, where petrol is priced at ₹78.05 per liter and diesel at ₹82.64 per liter.
Why Are Crude Oil Prices Falling?
The sharp decline in global oil prices is linked to easing concerns around supply disruptions in the Strait of Hormuz.
Iran’s recent assurance to maintain smooth passage for international shipping has reduced fears of supply shortages, leading to a drop in crude prices worldwide.
Why Haven’t Fuel Prices Dropped in India?
Experts point out several reasons why domestic prices remain unchanged:
- Pricing Lag: Retail fuel prices do not immediately reflect global crude movements
- Inventory Costs: Oil companies often adjust prices after exhausting higher-cost inventory
- Policy Factors: Taxes and duties play a significant role in final fuel pricing
Private Players and Premium Fuel Trends
While public sector oil companies have kept prices stable, private players such as Shell India and Nayara Energy have increased fuel prices in recent months.
Additionally, premium fuels like Indian Oil XP100 have reached levels of around ₹160 per liter, reflecting demand in niche segments.
What Consumers Can Expect
For now, consumers may need to wait before seeing any price relief at the pump. Analysts suggest that sustained softness in crude prices will be required before oil marketing companies consider revising retail fuel rates.
