Petrol, Diesel price today (March 25): Hike in fuel rates in Delhi, Mumbai, Kolkata and Chennai? Check latest details

Even as the Brent crude futures fell about 6 per cent to $98.30 a barrel amid the ongoing West Asia conflict, the prices of petrol and diesel remained steady overall in major Indian cities today on March 25. The prices of fuel have remained constant despite the geopolitical uncertainty in energy-producing regions of the Middle East due to the ongoing Iran conflict with US and Israel. Despite the movements in crude oil prices, the prices of petrol and diesel have not seen any immediate revisions, with retail fuel rates continuing to hold steady across key cities.

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Petrol, Diesel prices in major Indian cities

In Delhi, the price of petrol is Rs 94.77 per litre, and that of diesel is Rs 87.67 per litre. In Mumbai, Kolkata, Chennai, Bangalore and Hyderabad, the prices of petrol is above Rs 100 mark per litre. Meanwhile, fuel prices in Himachal Pradesh are set to go up after the state government imposed a fresh cess on petrol and diesel.

City	Petrol (₹/litre)	Diesel (₹/litre)
New Delhi	94.77	87.67
Mumbai	103.50	90.03
Kolkata	105.41	92.02
Bengaluru	102.92	90.99
Chennai	100.80	92.39
Hyderabad	107.46	95.70
Ahmedabad	94.48	90.16
Jaipur	104.72	90.21
Lucknow	94.73	87.81
Noida	94.77	87.89
Gurugram	95.44	87.90
Chandigarh	94.30	82.45
Patna	106.11	91.77

Fuel prices in India are revised daily, closely tracking fluctuations in global crude oil rates and movements in the rupee-dollar exchange rate.

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However, despite sharp volatility in international oil markets, petrol and diesel prices in India have remained largely stable in recent years. Retail fuel rates have seen minimal changes since May 2022, when the central government along with several states cut excise duty and VAT, providing relief to consumers and keeping prices in check.

What drives petrol and diesel prices in India?

Several key factors determine daily fuel prices across the country:

• Global crude oil prices: This is the most critical factor, as crude oil is the primary raw material used to produce petrol and diesel. Any spike or drop in international crude prices directly impacts fuel rates in India.
• Rupee vs US dollar: Since India imports a significant portion of its crude oil, the exchange rate plays a crucial role. A weaker rupee makes imports more expensive, which can lead to higher petrol and diesel prices.
• Central and state taxes: Taxes such as excise duty and VAT make up a substantial portion of retail fuel prices. This is also why petrol and diesel rates vary from state to state.
• Transportation costs: The cost of transporting fuel from refineries to retail outlets adds to the final price paid by consumers.
• Demand and supply dynamics: Changes in fuel demand, along with supply constraints, can also influence price movements.