Fuel Prices Today, 16 April 2026: Global fuel prices have entered a cooling phase following reports of renewed diplomatic momentum between the U.S. and Iran. Despite a full naval blockade recently implemented by the U.S., crude oil benchmarks dropped below the $95 threshold as traders began pricing in a potential second round of peace talks in Pakistan. In the domestic Indian market, retail petrol and diesel rates remain stable today at state-run outlets, even as aviation fuel and commercial gas costs reflect previous volatility.
Domestic Fuel Prices (India) – 16 April 2026
Retail petrol and diesel rates in major Indian cities remain unchanged as of 6:00 AM today.
New Delhi Fuel Prices
- Petrol: ₹94.77 per litre | Diesel: ₹87.67 per litre | CNG: ₹77.09 per kg | Domestic LPG (14.2kg): ₹913.00
Mumbai Fuel Prices
- Petrol: ₹103.54 per litre | Diesel: ₹90.03 per litre | CNG: ₹80.50 per kg | Domestic LPG (14.2kg): ₹912.50
Kolkata Fuel Prices
- Petrol: ₹105.41 per litre | Diesel: ₹92.02 per litre | CNG: ₹93.50 per kg | Domestic LPG (14.2kg): ₹939.00
Chennai Fuel Prices
- Petrol: ₹100.85 per litre | Diesel: ₹92.39 per litre | CNG: ₹91.50 per kg | Domestic LPG (14.2kg): ₹928.50
Bangalore Fuel Prices
- Petrol: ₹102.92 per litre | Diesel: ₹90.99 per litre | CNG: ₹88.95 per kg | Domestic LPG (14.2kg): ₹915.50
Hyderabad Fuel Prices
- Petrol: ₹107.46 per litre | Diesel: ₹95.70 per litre | CNG: ₹97.00 per kg | Domestic LPG (14.2kg): ₹965.00
Key Commercial & Alternative Fuel Rates
- Commercial LPG (19 kg): Rates remain significantly higher following the ₹194–₹215 hike implemented on 1 April. Currently, a cylinder costs ₹2,078.50 in Delhi and ₹2,031.00 in Mumbai
- Aviation Turbine Fuel (ATF): Domestic jet fuel prices for scheduled carriers were corrected to approximately ₹1,04,927 per KL, though non-scheduled charter rates crossed the record ₹2.07 lakh per KL mark earlier this month
- Piped Natural Gas (PNG): Rates are stable at ₹47.89 per SCM in Delhi and ₹50.00 in Mumbai
- Premium Petrol (XP100): Retails at approximately ₹160.00 per litre in Delhi
- AutoGas (LPG): Currently retailing at ₹64.80 per litre in Delhi
International Fuel Prices – 16 April 2026
International benchmarks have retreated from earlier session highs as markets anticipate a diplomatic “off-ramp” from the West Asia conflict.
- Brent Crude (Global): Trading near $94.75 – $95.60 per barrel
- WTI Crude (US): Currently around $90.90 – $91.90 per barrel
- Urals Oil: $117.46 per barrel, down 2.78%
- Performance: Brent has seen a weekly decline of approximately 10% since the ceasefire was first initiated, though it remains nearly 44% higher year-over-year due to previous spikes
Crude Oil (CLW00) Price Chart
- Open: $88.31 | High: $88.31 | Low: $87.32
- Previous Close: $88.13 | Volume: 3,692 | Open Interest: 320,631
- Daily Change: -0.78%
Key Market Drivers
Diplomatic Efforts
- US President Donald Trump signaled that negotiations with Tehran could resume this week, despite a current U.S. naval blockade of Iranian ports that has halted their maritime trade
Strait of Hormuz
- The waterway remains a critical risk point. It handles approximately 20% of global oil supply, and any confirmed long-term disruption could see prices skyrocket toward $120–$150 per barrel
Regional Negotiations
- Reports of separate negotiations between Israel and Lebanon have further supported a broader “wait-and-see” approach among commodity traders
Supply Outlook
- The International Energy Agency (IEA) has warned of a potential historic supply shock if the conflict persists, although current inventories and strategic releases are mitigating immediate shortages
Impact and Outlook for India
Inflation Risks
- Every $10 increase in crude prices adds approximately $13–$14 billion to India’s import bill, putting downward pressure on the rupee
Energy Security
- India has diversified its crude sourcing to more than 40 countries to maintain stable supplies despite the West Asia disruption
Domestic Price Outlook
- Retail price stability is largely supported by state-run oil companies like IOCL and BPCL, who have held rates steady to manage domestic inflation despite international crude fluctuating
- The government has capped monthly jet fuel hikes at 25% to protect passengers from extreme fare spikes
What This Means for Consumers
- Regular Fuel: Petrol and diesel remain stable at state-run pumps for now
- Commercial LPG: Restaurants and small businesses face ₹2,078.50 per 19kg cylinder in Delhi
- ATF: Scheduled carriers pay ~₹1.04 lakh per KL; charter rates remain at record highs of ₹2.07 lakh per KL
- Premium Petrol: XP100 users pay ₹160 per litre in Delhi
- Peace Talks Outlook: Any progress in negotiations could further ease crude prices, while breakdown could trigger renewed spikes
Disclaimer: Fuel prices are subject to daily revision by oil marketing companies. All rates listed are indicative and may vary by outlet, location, and date. Please check with your local fuel station or the official IOCL/BPCL/HPCL apps for real-time pricing.
