Petrol, Diesel Prices Today, March 7: Check City-Wise Rates In Delhi, Mumbai, Bengaluru And Other Major Indian Cities

Petrol-Diesel Price Today in India: Petrol and diesel prices remained unchanged across major cities in India on Saturday, March 7, 2026, even as global crude oil rates surged amid escalating tensions in West Asia. The retail prices of petrol and diesel in Delhi, Mumbai, Chennai, Kolkata, and several other cities recorded no change compared to the previous day, providing some relief to consumers despite rising concerns over global supply disruptions. 

Government officials have stated that India’s fuel supply remains stable, emphasising that the country procures crude oil according to its own energy requirements rather than relying on the approval of any foreign nation. 

They also highlighted that India has an ample reserve of crude oil and refined petroleum products and has diversified its import sources over the years to minimise potential supply risks. 

Petrol and Diesel Price Today in Major Indian Cities 

Why Rising Crude Oil Prices Matter for India 

India imports nearly 88 per cent of its crude oil requirement, making the country highly sensitive to fluctuations in international oil markets. Crude oil is refined into fuels, such as petrol and diesel, meaning any sustained rise in global prices can directly affect India’s fuel costs. 

If international crude prices remain elevated for a prolonged period, India’s import bill could increase significantly. This may also put pressure on inflation and the broader economy. 

Why Are Gas Prices Increasing Today?

 Concerns over fuel prices are increasing as global crude oil prices have surged due to fears of supply disruptions linked to the ongoing conflict in West Asia. According to Reuters, there are growing expectations that energy exports from Gulf countries could be affected if the crisis escalates further. Market anxiety has also intensified after Kuwait began shutting down production at some oilfields due to storage limitations. 

Meanwhile, India’s reliance on imported LNG has grown as domestic gas production remains weak while demand from city gas networks, fertilizer plants, and industries continues to rise. 

How Fuel Prices Are Decided in India

Petrol and diesel prices in India have largely remained unchanged since May 2022, when the government reduced excise duties to ease inflationary pressure. 

Fuel prices are updated daily at 6 am by Oil Marketing Companies (OMCs), including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum. 

However, the final retail price is influenced by several factors: 

Global crude oil prices

 The rupee-US dollar exchange rate 

Central and state taxes 

Refining and transportation costs

Will Petrol and Diesel Prices Rise Soon? 

With global crude oil benchmarks climbing due to geopolitical tensions in West Asia, concerns are growing among consumers about a possible rise in petrol and diesel prices. 

Energy experts say the situation remains uncertain. If crude prices remain elevated for a long period or supply disruptions worsen, domestic fuel prices in India could eventually face upward pressure. 

For now, however, petrol and diesel rates across major cities continue to remain unchanged. 

Also Read: LPG Cylinder Price Hike: Domestic Cooking Gas Up Rs 60, Commercial LPG Rs 115 Costlier Amid West Asia Conflict — Check City-Wise LPG Prices