Petrol, Diesel Prices on March 30: Rates Unchanged Across Major Cities Despite Crude Oil Surge

Fuel Prices in India Remain Stable Amid Global Oil Volatility​

Petrol and diesel prices across major Indian cities remain largely unchanged on Monday, March 30, even as global crude oil markets witness significant volatility. The stability in domestic fuel rates comes despite a sharp rise in international oil prices and recent government measures on excise duty.

Brent Crude Surges Over 50% Following Middle East Tensions​

Global oil prices have risen sharply after the United States and Israel carried out joint strikes against Iran on February 28. Since then, the Brent crude benchmark has climbed more than 50%, briefly touching $116 on Monday.

The spike is linked to disruptions in global energy supply, particularly due to the effective closure of the Strait of Hormuz, a critical route for oil shipments. While Iran has allowed certain countries, including India, China, Russia, and Pakistan, limited exemptions, uncertainty continues to drive volatility in the market.

Diplomatic tensions remain unresolved. While US President Donald Trump has indicated progress in talks with Iran, Tehran has rejected these claims. Further escalation risks persist after the US signalled potential action targeting Iran’s oil infrastructure, including the Kharg Island export hub.

Government Cuts Excise Duty, OMCs Hold Retail Prices​

In response to rising crude prices, the government has reduced excise duty on petrol by ₹3 per litre and fully exempted diesel from the levy. The move is aimed at supporting state-run oil marketing companies (OMCs), which are facing pressure on margins.

However, the benefit has not been passed on to consumers. OMCs are using the relief to stabilise their financial position, resulting in no change in retail fuel prices.

Industrial Diesel and Premium Petrol Prices Increased​

Earlier this month, OMCs raised prices of certain fuel categories to offset rising costs:

• Industrial diesel prices were increased by ₹21.92 per litre, marking a 25% hike
• Premium petrol prices were raised by ₹2 per litre

These adjustments primarily impact commercial and bulk consumers rather than retail buyers.

Daily Price Revision Mechanism​

Fuel prices in India are revised daily at 6 am by major OMCs including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL). Prices are aligned with global crude oil trends and currency exchange fluctuations.

Petrol and Diesel Prices on March 30 in Major Cities​

Here are the latest fuel prices across key Indian cities:

• Delhi: Petrol ₹94.77 per litre | Diesel ₹87.67 per litre
• Mumbai: Petrol ₹103.54 per litre | Diesel ₹90.03 per litre
• Kolkata: Petrol ₹105.45 per litre | Diesel ₹92.02 per litre
• Chennai: Petrol ₹100.84 per litre | Diesel ₹92.39 per litre
• Hyderabad: Petrol ₹107.46 per litre | Diesel ₹95.70 per litre
• Bengaluru: Petrol ₹102.96 per litre | Diesel ₹90.99 per litre
• Lucknow: Petrol ₹94.69 per litre | Diesel ₹87.81 per litre
• Ahmedabad: Petrol ₹94.49 per litre | Diesel ₹90.17 per litre

Outlook Remains Uncertain​

Despite stable retail prices, the ongoing geopolitical tensions and supply disruptions continue to pose risks to global oil markets. Domestic fuel pricing trends will depend on how international crude prices evolve and how OMCs manage margin pressures in the coming days.