March 24 Fuel Update: Petrol, Diesel Prices Remain Unchanged In Delhi, Mumbai, Kolkata

Petrol and diesel prices across major Indian cities remained largely unchanged on March 24, even as global crude oil benchmarks edged higher amid rising geopolitical tensions in West Asia. The ongoing Middle East conflict, now in its fourth week following US‑Israel airstrikes on Iran, has contributed to volatility in international oil markets.

In the national capital, petrol continues to sell at Rs 94.77 per litre, while diesel is priced at Rs 87.67 per litre. In Mumbai, rates are higher, with petrol costing Rs 103.54 per litre and diesel approximately Rs 90.03 per litre. Other metropolitan centres such as Hyderabad, Kolkata, and Bengaluru have petrol prices exceeding Rs 100 per litre, while diesel generally remains below that threshold.

Industrial fuel rates have seen notable increases, with bulk diesel for commercial users rising by Rs 21.92 per litre, representing about a 25 percent hike. Premium petrol prices have also increased by Rs 2 per litre. Analysts attribute these fluctuations to global crude price movements and disruptions in key maritime trade corridors, which have put additional pressure on supply chains.

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Global oil markets have experienced volatility in recent days. Brent crude recently closed just under $100 per barrel, while US benchmark West Texas Intermediate hovered near $90 per barrel for June contracts. Despite recent swings, crude remains elevated, up more than 30 percent this month.

India has maintained that its energy security remains intact despite these international disruptions. Union Petroleum and Natural Gas Minister Hardeep Singh Puri informed Parliament that the country’s energy requirements continue to be well-secured. Domestic LPG prices were also increased on March 7, with a 14.2‑kg cylinder in Delhi rising from Rs 853 to Rs 913, and commercial cylinders now priced around Rs 1,884.50.

Fuel prices in India are primarily influenced by global crude costs, the rupee–dollar exchange rate, and government levies, including excise duty and state-level VAT. These factors account for the variations in petrol and diesel prices across different cities and underscore the impact of both international and domestic developments on everyday fuel costs.

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