Outlook Business Desk
Global crude oil prices had earlier surged as tensions escalated in West Asia, with the Brent benchmark crossing $100 per barrel and briefly touching $114. However, prices now fell sharply by about 7%, with Brent crude dropping to around $91.71 per barrel.
Despite a sharp surge in global crude oil prices, petrol and diesel rates in India remained unchanged on March 10, 2026. Retail fuel prices stayed steady across major metropolitan cities even as international oil markets witnessed heightened volatility.
In Delhi, petrol continues to retail at ₹94.77 per litre, while diesel stands at ₹87.67 per litre. Fuel prices in the national capital have remained unchanged despite the recent surge in global crude oil prices.
Fuel prices remain higher in Mumbai than in several other major cities. Petrol is currently priced at ₹103.49 per litre, while diesel stands at ₹90.03 per litre in the country’s financial capital.
Petrol prices have crossed ₹100 per litre in several major metro cities, including Mumbai, Bengaluru, Hyderabad and Kolkata. However, diesel prices in these cities continue to remain below the ₹100-per-litre mark.
On the other hand, fuel prices in Noida and Gurugram remained unchanged. In Noida, petrol is priced at ₹94.88 per litre and diesel at ₹87.98 per litre, while in Gurugram petrol costs ₹95.39 per litre and diesel ₹87.85 per litre.
Recent volatility in crude oil markets links closely to rising geopolitical tensions in West Asia. The ongoing US–Iran conflict has raised concerns about possible supply disruptions through the Strait of Hormuz, a crucial global oil transit route.
Oil Marketing Companies revise petrol and diesel prices daily based on global crude oil movements and foreign exchange rate changes. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) handle pricing and distribution.
Several factors influence petrol and diesel prices in India, including international crude oil prices, the rupee–dollar exchange rate, taxes imposed by central and state governments, transportation costs and demand–supply conditions.