Petrol, diesel prices remain unchanged on April 12 amid global oil volatility. (Photo: AI)
Petrol & diesel prices didn’t change on April 12, 2026, for the moment, giving consumers some respite from the volatility in global crude markets. Oil marketing companies will update their prices every day at 6 AM, as per international crude prices and currency exchange rates. But for now, retail fuel prices have been frozen to avoid surprise shocks to the consumers.
No, they didn’t. Petrol and diesel prices didn’t change on April 12, despite global oil markets being volatile due to geopolitical issues. Currently, oil companies are taking a bit of the cost burden so that it doesn’t create inflationary pressure on consumers.
Domestic fuel prices are stable in the middle of highly volatile global oil market due to West Asian panic over tensions between Iran and Israel with the United States. Tension over oil supply through the Strait of Hormuz, a major route for nearly 20 per cent of the world’s oil shipments, has spooked oil markets.
To prevent price volatility, the government and oil marketing companies decided to keep their price stable in the short term.
Here are the latest fuel prices across key Indian cities:
New Delhi – Petrol: ₹94.72 | Diesel: ₹87.62
Mumbai – Petrol: ₹104.21 | Diesel: ₹92.15
Kolkata – Petrol: ₹103.94 | Diesel: ₹90.76
Chennai – Petrol: ₹100.75 | Diesel: ₹92.34
Ahmedabad – Petrol: ₹94.49 | Diesel: ₹90.17
Bengaluru – Petrol: ₹102.92 | Diesel: ₹89.02
Hyderabad – Petrol: ₹107.46 | Diesel: ₹95.70
Jaipur – Petrol: ₹104.72 | Diesel: ₹90.21
Lucknow – Petrol: ₹94.69 | Diesel: ₹87.80
Pune – Petrol: ₹104.04 | Diesel: ₹90.57
Chandigarh – Petrol: ₹94.30 | Diesel: ₹82.45
Indore – Petrol: ₹106.48 | Diesel: ₹91.88
Patna – Petrol: ₹105.58 | Diesel: ₹93.80
Surat – Petrol: ₹95.00 | Diesel: ₹89.00
Nashik – Petrol: ₹95.50 | Diesel: ₹89.50
Petrol and diesel prices in India have been largely unchanged since May 2022 following tax cuts by the central and several state governments. The prices are driven by global crude prices, but government interference and tax structure has a role in keeping the prices consistent.
Though regular fuel prices have remained constant, premium variants have seen price hikes. IndianOil’s XP100 petrol was increased by ₹11 per litre to the current price of ₹160. Similar price increase has also affected premium diesel variants like Xtra Green. These variants cater predominantly to high-performance vehicles and are priced separately as they are less sensitive to demand.
Petrol and diesel prices have gone up with weak crude prices, according to private players Shell and Nayara Energy. Petrol prices at private outlets in Bengaluru have gone up sharply while diesel prices have risen even more. The industry is pressing hard on the margins amid global oil price swings.
Speculation about the hike is growing. With crude prices on the global rise and rupee at a low tinge, oil corporates may not be able to absorb losses. If the trend continues, it’s likely that price revisions will be inevitable in the next few weeks.
The following factors drive fuel prices in India:
Global crude oil prices
Rupee vs US dollar exchange rate
Central and state taxes (excise duty and VAT)
Refining and transportation costs
Demand and supply
Can the government intervene?
Price caps may be one way to intervene. However, experts say this could trigger fuel shortages. If suppliers are compelled to sell at lower prices, they can redirect supply to more lucrative markets. While high fuel prices are painful, they can help curb demand and ease the supply crunch during a crisis.
The good news is that there’s no change in petrol and diesel prices in the short term across the country. But with oil markets globally under pressure, there’s no guarantee of how things will pan out. Customers may need to be prepared for the possibility of price alterations if crude prices remain on the rise.
Sofia Babu Chacko is a journalist with over five years of experience reporting on Indian politics, crime, human rights, gender issues, and stories about marginalized communities. She believes journalism plays a crucial role in amplifying unheard voices and bringing attention to issues that truly matter. Sofia has contributed articles to The New Indian Express, Youth Ki Awaaz, and Maktoob Media. She is also a recipient of the 2025 Laadli Media Awards for gender sensitivity. Beyond the newsroom, she is a music enthusiast who enjoys singing. Connect with Sofia on X: https://x.com/SBCism
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