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[BUSINESS] · India · 6 sources

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Part of situation: Indian fuel prices shift from stability to hikes (18 clusters)

Indian oil companies face losses amid high crude and freight costs

fuel prices crude oil costs oil marketing companies petrol rates diesel rates

Indian oil marketing companies (OMCs) are facing significant financial pressure, with estimated marketing losses of up to Rs 30 per litre on diesel and Rs 26 per litre on petrol. According to a Jefferies equity research report, these losses are driven by high crude procurement costs and a sharp rise in shipping charges due to Middle East conflicts. Freight rates have reportedly increased approximately eight times since the start of the conflict, now accounting for over 25 per cent of the landed cost of crude oil.

Daily retail fuel prices across major Indian cities have remained relatively stable despite these underlying costs. In Delhi, petrol is priced around ₹94.72 and diesel at ₹87.62, while Mumbai sees higher rates with petrol at approximately ₹103.44 and diesel at ₹89.97. Other major metropolitan rates include Kolkata, where petrol is roughly ₹103.94, and Chennai, where petrol is approximately ₹100.75. Prices vary by region due to state-level Value Added Tax (VAT), local transportation costs, and dealer commissions.

Entities

Bharat Petroleum Corporation Limited · Chennai · Hindustan Petroleum Corporation Limited · Indian Oil Corporation · Jefferies · Kolkata · Mumbai · New Delhi

Claims

What the coverage asserts, and how many sources carry each claim.

  • [○ 1 SOURCE] Global crude oil prices have surged more than 50 per cent since late February. www.dtnext.in
  • [● 2 SOURCES] In New Delhi, petrol is priced at Rs 102.12 per litre and diesel at Rs 95.20 per litre. udaipurkiran.com · www.news18.com
  • [○ 1 SOURCE] International crude oil prices are hovering around $106 per barrel. udaipurkiran.com
  • [● 2 SOURCES] Petrol and diesel prices remained unchanged across major Indian cities on October 16, 2026. udaipurkiran.com · www.news18.com
  • [● 2 SOURCES] Fuel prices are typically updated daily at 6:00 AM under India’s dynamic pricing system. udaipurkiran.com · www.news18.com
  • [● 2 SOURCES] In Chennai, petrol is priced at Rs 107.77 per litre and diesel at Rs 99.55 per litre. www.dtnext.in · udaipurkiran.com
  • [○ 1 SOURCE] Petrol and diesel are currently outside the Goods and Services Tax (GST) regime in India. www.news18.com
  • [○ 1 SOURCE] In Mumbai, petrol costs approximately Rs 111.18 per litre and diesel costs Rs 97.83 per litre. www.news18.com

Sources

Petrol Diesel Price Today: 18 अक्टूबर को पेट्रोल-डीजल के नए रेट जारी, गाड़ी की टंकी फुल कराने से पहले चेक करें दिल्ली से लखनऊ तक के ताजा भाव [newsindialive.in]
Petrol Diesel Price Today: पेट्रोल-डीजल के नए रेट जारी, दिल्ली से जयपुर और मुंबई तक जानें आज के भाव [samacharnama.com]
Oil marketing companies losing up to Rs 30 per litre on fuel sales amid high crude costs: Jefferies [kalingatv.com]
Petrol and Diesel Prices Today, October 16: Check Latest Rates in Major Cities [udaipurkiran.com]
Check out petrol and diesel prices in Chennai on October 15, 2026 [www.dtnext.in]
Petrol, Diesel Prices Today, October 16: Check Fuel Rates In Delhi, Mumbai, Kolkata, Chennai [www.news18.com]