Fuel Prices Today, 1 April 2026: Fuel prices across major Indian cities remain stable today, Wednesday, April 1, 2026. Although the central government recently implemented a significant ₹10 per litre excise duty cut on petrol and diesel to counter the global crude oil spike ($113–$149 per barrel), state-run oil marketing companies (OMCs) are currently absorbing the tax relief to offset their own heavy import losses rather than passing it on as a retail price cut. The global oil market remains in a state of extreme volatility as the world grapples with the fallout from the U.S.-Iran conflict and the continued closure of the Strait of Hormuz.
Fuel Prices Today (April 1, 2026)
| Fuel Type | Variant | Price (Delhi) |
|---|---|---|
| Petrol | Regular | ₹94.77 per Litre |
| Petrol | Premium (XP95/Speed) | ₹101.89 per Litre |
| Diesel | Regular | ₹87.67 per Litre |
| Diesel | High Speed / Turbo | ₹92.45 per Litre |
| CNG | Standard | ₹77.09 per Kg |
| LPG | Domestic (14.2 kg) | ₹913.00 per Cylinder |
| LPG | Commercial (19 kg) | ₹1,884.50 per Cylinder |
| PNG | Domestic (Piped Gas) | ₹47.89 per SCM |
Metro City Comparison (per Litre)
| City | Petrol Price | Diesel Price |
|---|---|---|
| Mumbai | ₹103.54 | ₹90.03 |
| Bangalore | ₹102.96 | ₹90.99 |
| Chennai | ₹100.80 | ₹92.39 |
| Kolkata | ₹105.41 | ₹92.02 |
| Hyderabad | ₹107.46 | ₹95.70 |
Key Market Insights
- Excise Duty Status: Effective March 27, 2026, the central excise duty stands at ₹3 per litre on petrol and is nil on diesel.
- Private vs. State Pumps: While state-run pumps (IOCL, BPCL, HPCL) are holding rates, private retailers like Nayara Energy have reportedly increased their prices by roughly ₹5 for petrol and ₹3 for diesel.
- LPG Subsidy: Despite the ₹60 hike in domestic LPG earlier this month, Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries continue to receive a ₹300 subsidy per cylinder.
- Global Volatility: The Indian basket of crude oil reached $115.75 per barrel as of late March, making India highly vulnerable to further supply disruptions.
Global Oil Market Today
The global oil market remains in a state of extreme volatility. Prices are hovering near record highs as the world grapples with the fallout from the U.S.-Iran conflict and the continued closure of the Strait of Hormuz.
| Benchmark | Price (USD/bbl) | Daily Change | Status |
|---|---|---|---|
| Brent Crude | $113.82 | -0.14% | 50% surge in March |
| WTI Crude | $105.12 | +0.16% | Multi-year high |
| Urals Oil | $109.85 | +0.15% | Supply routes threatened |
| OPEC Basket | $118.10 | Stable | Reflects high risk premium |
| Indian Basket | $121.20 | Stable | Impacted by high import costs |
Critical Market Drivers
- Hormuz Shipping Crisis: Traffic through the Strait, which handles 20% of global oil, has dropped to nearly zero. Iran has implemented “selective transit,” allowing only approved vessels (e.g., from China, Russia, and India) to pass via a newly established northern channel.
- Emergency Reserve Release: The IEA has launched its largest-ever collective action, releasing 400 million barrels from emergency stocks to provide a “significant buffer.”
- OPEC+ Strategy: After a three-month pause, eight core OPEC+ members (including Saudi Arabia and Russia) have agreed to a modest production increase of 206,000 barrels per day starting in April to help stabilize the market. All eyes are on the upcoming OPEC+ meeting scheduled for April 5.
- Infrastructure Risks: Beyond the Strait, Russian Baltic exports via Ust-Luga have faced repeated UAV attacks, while Yemen’s Houthi militants continue to threaten Red Sea and Saudi energy corridors.
Economic Impact
- Freight & Insurance: War-risk insurance premiums for the region have increased up to six times, adding hundreds of thousands of dollars to single transit costs.
- Refining Shortage: Over 3 mb/d of refining capacity in the Gulf has shut down due to attacks or lack of export routes, causing a severe tightening in global jet fuel and diesel markets.
6-Month Fuel Price Trend (Delhi)
| Month | Petrol (Regular) | Diesel (Regular) | Market Context |
|---|---|---|---|
| October 2025 | ₹94.72 | ₹87.62 | Stability phase; OMCs absorb global costs |
| November 2025 | ₹94.72 | ₹87.62 | Prices remain frozen at state-run pumps |
| December 2025 | ₹94.72 | ₹87.62 | Minor local adjustments in some states |
| January 2026 | ₹94.72 | ₹87.62 | Domestic rates decouple from rising crude |
| February 2026 | ₹94.72 | ₹87.62 | Geopolitical tensions trigger global spikes |
| March 2026 | ₹94.77 | ₹87.67 | ₹10 Excise Cut; Premium fuels hiked |
Key Trend Drivers
- The “Price Freeze” Period: For nearly five months (Oct–Feb), retail prices for regular petrol and diesel saw zero net change. State-run OMCs held rates steady to control inflation, even as global crude climbed.
- Emergency Excise Cut (March 27, 2026): As global oil prices approached $149 per barrel due to the Middle East conflict, the Central Government slashed excise duty by ₹10 per litre.
- Absorption Strategy: Notably, retail prices did not drop by the full ₹10. OMCs used this tax relief to “repair their balance sheets”—offsetting the massive losses they took while buying expensive international crude and selling it at frozen domestic rates.
- Premium Fuel Divergence: While regular fuel stayed flat, Premium Petrol (XP95/Speed) saw a hike of roughly ₹2 per litre in late March to reflect the higher cost of additives and global benchmarks.
- LPG Spike: Unlike auto fuels, Domestic LPG remained steady at ₹853 until March 7, 2026, when it surged by ₹60 to reach the current ₹913 per cylinder in Delhi.
Comparison: Domestic vs. Global Trend
While global Brent crude rose by over 55% during this six-month window, Indian retail petrol prices effectively rose by less than 0.1% due to heavy government subsidies and tax adjustments.
What This Means for Consumers
- State-Run Pumps: Regular petrol and diesel remain stable at ₹94.77/L and ₹87.67/L respectively, thanks to the excise duty cut and OMC absorption.
- Private Pumps: Nayara and other private outlets may charge ₹5 more for petrol and ₹3 more for diesel.
- Premium Fuels: Expect to pay ₹2 more per litre for high-octane variants.
- LPG: Domestic cylinder prices remain at post-hike levels; Ujjwala beneficiaries receive a ₹300 subsidy.
Disclaimer: Fuel prices are subject to daily revisions by oil marketing companies. Rates are indicative and may vary by outlet. Please check with local fuel stations for exact pricing.
