Your morning fill-up costs the same as yesterday. And the day before. In fact, for most of India, petrol and diesel prices at state-run outlets have not changed since June 2024, when the last major revision happened ahead of the general elections. That two-year freeze on retail pump prices, maintained by public sector oil marketing companies — Indian Oil (IOCL), BPCL, and HPCL — has been a policy choice as much as a market reality. But the global oil market that surrounds this domestic pricing calm has been anything but calm.
This is the full fuel price picture for India on April 16, 2026.
City-Wise Retail Fuel Prices (As of April 16, 2026)
Petrol (per litre):
- New Delhi: Rs. 94.77
- Mumbai: Rs. 103.54
- Kolkata: Rs. 104.95
- Chennai: Rs. 100.75
- Bengaluru: Rs. 102.86 (approx.)
- Hyderabad: Rs. 107.41 (approx.)
Diesel (per litre):
- New Delhi: Rs. 87.67
- Mumbai: Rs. 90.03
- Kolkata: Rs. 91.76 (approx.)
- Chennai: Rs. 92.46 (approx.)
CNG (per kg):
- Delhi: Rs. 75.09 (approx.)
- Mumbai: Rs. 73.50 (approx.)
- CNG prices have risen Rs. 1 per kg over the past 12 months, with the most significant hike of Rs. 0.50 in June 2025.
LPG — Domestic Cooking Cylinder (14.2 kg):
- National average: Rs. 912.50
- Unchanged since March 2026. This provides direct relief to over 310 million Ujjwala Yojana and regular LPG households.
LPG — Commercial Cylinder (19 kg):
- Delhi: Rs. 2,078.50
- Mumbai: Rs. 2,031.00
- This rate was revised upward on April 1 and remains elevated. Hotels, restaurants, and small businesses reliant on commercial cylinders are bearing significantly higher costs.
PNG (Piped Natural Gas):
- Delhi: Rs. 49.59 per Standard Cubic Metre (SCM)
- Stable since early 2026
Premium Petrol (XP100):
- Delhi: Rs. 160 per litre
- Higher-octane, premium-grade petrol for performance vehicles
Aviation Turbine Fuel (ATF):
- Approximately Rs. 1,04,927 per kilolitre for scheduled domestic carriers
- Non-scheduled charter: Approximately Rs. 2.07 lakh per KL — at near-record highs
Why Is Crude Oil So Volatile Right Now?
To understand India's fuel price situation, you need to understand the Strait of Hormuz.
This narrow waterway between Iran and Oman — roughly 39 km wide at its narrowest point — handles somewhere between 20-21% of all global seaborne oil. About 17-18 million barrels pass through it daily. When the US-Iran conflict escalated in early April and the US Navy announced a naval presence in the region, global crude oil markets reacted with extreme volatility.
Here is what happened in the space of just one week:
April 8: The US and Iran reached a ceasefire agreement. Brent crude crashed 15-16.5% in a single session — the biggest one-day fall since the Covid lockdown of 2020. Prices dropped toward $80 per barrel.
April 9-10: Prices rebounded 3-8% as doubts emerged about whether the ceasefire would hold. Israel continued strikes on Beirut. Iran issued warnings about "regret-inducing responses."
April 11-15: Prices yo-yoed between $93 and $102 as peace talks in Islamabad between US and Iranian representatives moved through uncertain terrain.
April 15-16: Brent crude held near $96-97 per barrel, with short-term optimism building around the Islamabad talks, but without a definitive breakthrough.
For India, the Indian Crude Basket — which is a weighted average of the specific crude blends India imports — was trading near $96-97 per barrel as of mid-April. For context, India's budget for FY26-27 was likely calculated on an assumption of $75-80 per barrel. Every $10 increase adds significantly to the current account deficit.
Why Domestic Prices Haven't Changed
The question most consumers ask is simple: if global crude is this volatile, why hasn't the petrol pump price moved?
The answer is partly political, partly structural, and partly technical.
Oil marketing companies — IOCL, BPCL, HPCL — function under government guidance. Since June 2024, retail prices have been frozen even as OMCs absorbed margin swings. The government has been reluctant to raise retail prices ahead of state elections in 2026 and in the context of already-elevated food inflation.
However, this policy has a cost. HPCL's Q4 FY26 profits fell 30% to Rs. 4,789 crore. BPCL also reported a PAT decline as marketing margins were squeezed. The Centre has cut windfall taxes on domestic crude production and adjusted dealer commissions to provide some buffer to OMCs without passing on costs to consumers.
The Centre has also publicly assured citizens: "No need to panic. Adequate LPG, petrol, diesel, CNG, and PNG supply exists." Indian Oil specifically reassured the public during a period of heightened India-Pakistan tension — a separate domestic front — that fuel stocks were ample.
What's the Impact on You?
For two-wheeler and car owners: Pump prices are stable, so there is no immediate change in daily commuting costs. However, premium fuel (XP100) at Rs. 160/litre has risen with global costs.
For commercial transport: Diesel at Rs. 87.67/litre (Delhi) is unchanged, but fleet operators have seen indirect cost pressures through rising toll rates and increased maintenance costs from road-heavy logistics rerouting post-Strait disruption.
For restaurant and hospitality businesses: The commercial LPG hike on April 1 to Rs. 2,078.50 per 19 kg cylinder in Delhi is a real cost impact. A restaurant using 10 commercial cylinders per month is now paying approximately Rs. 4,750 more monthly compared to December 2025 rates.
For households on domestic LPG: No change from March — Rs. 912.50 remains steady. Ujjwala beneficiaries continue to receive subsidy support.
For air travellers: Major airlines like Air India have introduced revised fuel surcharges effective April 10 for European and UK flights. Domestic airfares are under pressure but have not seen a dramatic spike yet, as scheduled carrier ATF was stabilized at around Rs. 1.04 lakh/KL after initial scare of a 115% hike.
What Lies Ahead for Fuel Prices
Three scenarios are in play over the next 4-6 weeks:
Scenario 1 — Peace Deal in West Asia: If Islamabad talks produce a durable framework and the Strait of Hormuz is fully reopened, Brent could fall back toward $75-80. This would create room for OMCs to recover margins without raising retail prices. Consumers win.
Scenario 2 — Talks Collapse, Conflict Resumes: Crude spikes above $105-110. OMCs face unsustainable losses. A Rs. 3-5 per litre price hike on petrol and diesel becomes unavoidable, potentially timed after state elections.
Scenario 3 — Prolonged Uncertainty (Most Likely): Crude oscillates between $90-100. OMCs absorb costs with thin margins. Government monitors the situation without triggering a price revision. The freeze holds through mid-year.
With IMD forecasting a below-normal monsoon for 2026 — which would suppress rural incomes and increase food inflation — the government will be additionally reluctant to raise fuel prices and add to cost-of-living pressure.
