Petrol, Diesel Prices On March 29, 2026: Check Out Latest Fuel Rates In Delhi, Mumbai, Bengaluru And Major Indian Cities Amid Fuel Excise Duty Cuts

Fuel prices in major Indian cities have largely remained stable compared to the previous day, despite the government’s recent move to reduce excise duty on petrol by Rs 3 per litre and completely exempt diesel from the levy. 

The sharp cut in excise duties on petrol and diesel was intended to ease the financial burden on state-run oil marketing companies, which have been facing significant pressure due to rising global crude oil prices amid the ongoing US-Iran conflict and heightened tensions in the Strait of Hormuz. 

Why Does Government Put Excise Duty on Petrol and Diesel?

The decision was intended to curb a potential spike in fuel prices after global crude oil rates surged by nearly 50% over the last month. However, state-run oil marketing companies like Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited are currently utilizing the tax relief to recover their losses rather than passing on the benefit to consumers, resulting in stable retail fuel prices for now. 

Petrol and Diesel Price Today on March 29

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