India fuel prices remain stable despite rising global crude oil costs

Fuel prices in India remained stable on August 31, 2026, despite rising volatility in the international crude oil market. Government oil companies maintained current rates for petrol and diesel across major cities, including Delhi, Mumbai, and Kolkata.

International crude prices saw an upward trend due to heightened military tensions in West Asia, specifically involving the United States and Iran. These tensions, which included strikes on rocket launchers and retaliatory actions, have raised concerns regarding oil supply through the Strait of Hormuz. Brent crude was trading around $89.21 to $90.32 per barrel, while WTI crude hovered near $84 to $85.41 per barrel.

Domestic fuel pricing in India is influenced by several factors beyond international crude costs, including central and state taxes, refining expenses, distribution costs, and the USD-INR exchange rate. In Delhi, petrol remains at ₹102.12 per liter and diesel at ₹95.20 per liter.