Petrol & Diesel Prices Today, 28 March 2026: No Change Despite Excise Duty Cut.
Petrol and Diesel Prices Today, 28 March 2026: No Change in Retail Rates Despite Excise Duty Cuts.
Petrol price and diesel price today, 28 March 2026, remained stable across major Indian cities even after the government slashed special additional excise duty on auto fuels just two days ago.
In Delhi, petrol continued at ₹94.77 per litre while diesel stood at ₹87.67 per litre, according to the latest notifications from state-run oil marketing companies (OMCs) like Indian Oil, Bharat Petroleum, and Hindustan Petroleum.
On 26 March 2026, the Finance Ministry issued a gazette notification reducing the special additional excise duty on petrol from ₹13 to ₹3 per litre and on diesel from ₹10 to nil (zero). This significant cut was aimed at providing relief to oil marketing companies (OMCs), which have been facing substantial under-recoveries due to soaring global crude oil prices triggered by the ongoing US-Iran conflict and broader Middle East tensions.
Despite the duty reduction, retail pump prices did not decrease on 28 March. The government and OMCs chose to offset the excise duty relief against the mounting losses on petrol and diesel sales. Oil Minister Hardeep Singh Puri had earlier indicated under-recoveries of around ₹24 per litre on petrol and ₹30 per litre on diesel, with some estimates from the ministry putting the figures even higher at ₹26 and ₹81.90 respectively in certain scenarios.
Why Retail Prices Remained Unchanged
The excise duty cut was not passed on directly to consumers at the pump. Instead, it helped OMCs partially recover losses incurred from selling fuel below the import parity price amid volatile international crude markets. Global Brent crude has been fluctuating due to geopolitical risks, with fears of supply disruptions from the Iran-related tensions pushing prices upward in recent weeks.
This move is seen as a balancing act: supporting the financial health of public sector OMCs while keeping retail prices steady to avoid immediate inflationary pressure on the common man, especially ahead of various economic indicators and seasonal demand factors.
Petrol Prices in Major Cities on 28 March 2026
Here are the latest petrol rates (per litre) in key Indian cities:
Delhi: ₹94.77
Mumbai: ₹103.54
Kolkata: ₹105.41
Chennai: ₹100.80 – ₹101.06 (minor daily variations observed)
Hyderabad: ₹107.46 – ₹107.50
Bengaluru: ₹102.92 – ₹102.96
Pune: ₹103.82 – ₹104.03
Lucknow: ₹94.69 – ₹94.97
Jaipur: ₹104.69 – ₹104.72
Ahmedabad: ₹94.63 – ₹94.84
Patna: ₹105.54 – ₹106.11
Chandigarh: ₹94.30
Mumbai and Kolkata continue to have among the highest petrol prices due to higher state taxes and local levies, while Delhi and Chandigarh remain relatively cheaper.
Diesel Prices in Major Cities on 28 March 2026
Latest diesel rates (per litre):
Delhi: ₹87.67
Mumbai: ₹90.03
Kolkata: ₹92.02
Chennai: ₹92.39 – ₹92.61
Hyderabad: ₹95.70
Bengaluru: ₹90.99
Pune: ₹90.74
Lucknow: ₹88.50
Jaipur: ₹90.18
Ahmedabad: ₹90.17
Patna: ₹91.84
Chandigarh: ₹82.45
Diesel prices show a similar pattern, with southern and eastern metros bearing higher costs. Chandigarh enjoys one of the lowest diesel rates among major cities.
City-Wise Price Comparison Table (28 March 2026)
Petrol Prices (₹/litre)
CityPriceChange (from previous)Delhi 94.77 0.00
Mumbai 103.54 0.00
Kolkata 105.41 Minor variation
Chennai 100.80–101.06 Slight daily shift
Hyderabad 107.46–107.50 Stable
Bengaluru 102.92–102.96 Stable
Jaipur 104.69–104.72 Stable
Diesel Prices (₹/litre)
CityPriceChangeDelhi 87.67 0.00
Mumbai 90.03 0.00
Kolkata 92.02 0.00
Chennai 92.39–92.61 Stable
Hyderabad 95.70 Stable
Bengaluru 90.99 Stable
Prices are revised daily at 6:00 AM by OMCs based on international crude prices, foreign exchange rates, and local taxes. However, on 28 March, no revision occurred in most cities.
Background: Impact of Geopolitical Tensions
The decision to slash excise duties came amid concerns over rising crude oil costs due to the US-Iran war and related Middle East instability. Higher global oil prices directly increase the cost of imported crude for India, which meets over 85% of its oil needs through imports.
By reducing the central excise component, the government aimed to ease the burden on OMCs without immediately burdening consumers with higher pump prices. This is a common strategy during periods of oil price volatility to maintain economic stability.
Key Takeaways from Today’s Fuel Price Update
Retail petrol and diesel prices remained unchanged on 28 March 2026 despite the excise duty cuts announced on 26 March.
The duty reduction (₹10 per litre effective relief on both fuels) is being used to offset OMC under-recoveries rather than lowering consumer prices.
Mumbai continues to be one of the most expensive cities for petrol, while Chandigarh offers relatively lower diesel rates.
Prices vary significantly across states due to differences in Value Added Tax (VAT), freight charges, and local cesses.
No immediate relief at the pump for consumers, but the move helps maintain stability in the oil marketing sector.
Factors Influencing Fuel Prices in India
International Crude Oil Prices — Brent and WTI benchmarks.
USD-INR Exchange Rate — India imports crude in dollars.
Central Excise Duty — Recently reduced.
State Taxes & VAT — Major reason for inter-city price differences.
OMC Costs & Margins — Including refining, transportation, and dealer commissions.
Consumers are advised to check daily prices on official OMC apps/websites or at nearby pumps, as minor variations can occur due to local factors.
For the latest updates, visit the Indian Oil, BPCL, or HPCL websites or use fuel price tracker apps. Prices are expected to remain under observation in the coming days given the fluid geopolitical situation in West Asia.
Note: The above rates are as of 28 March 2026 morning. Always confirm with your local fuel station for the exact prevailing price, as small daily adjustments can happen in some cities.
Stay informed and drive safely! ⛽
Comments
Post a Comment