Petrol Diesel Price Today April 18 2026 – Delhi, Mumbai, All States

The petrol and diesel prices today haven;t changed as of now. Due to ongoing Strait of Hormuz conflict, Bharat is still standing strong in term of Oil Prices. But everyone must be wondering how this is happening? Why fuel prices have surged even after the war is still at its peak.

Global Oil Prices: Where Things Stand Today

As of April 18, 2026, Brent crude oil is trading in the $96–$98 per barrel range. WTI (West Texas Intermediate), the US benchmark, is slightly lower at $92–$94 per barrel. Both benchmarks remain significantly above where they were a year ago — Brent was around $65–$66 per barrel in April 2025. The $30+ difference is almost entirely a product of the US–Iran war and the de facto closure of the Strait of Hormuz.

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EIA data tells the full story of Q1 2026: crude prices went from $61/barrel on January 1 to $118/barrel by March 31 — the largest quarterly surge on an inflation-adjusted basis going back to 1988. That is not a blip. That is a structural shock. The Brent-WTI spread also widened sharply in March, reaching $25/barrel — the highest in over five years — because US domestic production is partially insulated from Hormuz disruptions, while Brent (global) carries the full geopolitical risk premium.

Fuel Prices Across India Today

Note: Prices vary by state because each state levies its own VAT and local taxes over and above the central excise duty. Rajasthan, Telangana, Bihar, and Odisha tend to be among the more expensive states. Delhi is historically among the cheaper metros because the state government keeps its VAT relatively low.

Why Pump Prices Have Not Moved Despite a Global Price Surge

India's fuel pricing at retail pumps has technically been on a "dynamic daily revision" model since June 2017 — the idea was that pump prices would track international crude in near-real-time. In practice, since April 2022, they have not moved. State-run fuel retailers — Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) — have been absorbing losses during high-crude periods and recovering them when prices fall. Government policy is to protect consumers from volatility.

This worked reasonably well when global crude was trading in the $60–$80 range. But at $96–$118 per barrel, the math gets difficult fast. At $118/barrel (peak in March), industry sources suggested IOC alone was losing in the range of Rs 12–14 per litre on petrol and Rs 8–10 on diesel in some markets. Those are significant losses for public sector companies.

How Long Can This Last?

The honest answer is: not much longer at $96+ crude. With Brent having pulled back from $118 to $96–$98, the losses are more manageable. If the Iran–US ceasefire holds and peace talks progress (VP Vance's round-2 negotiations), crude could ease further into the $80–$85 range, at which point the current policy becomes sustainable again. But if talks fail, the ceasefire collapses, and oil hits $100+ again — or worse, if Iran follows through on its threat to block the entire Persian Gulf — expect a fuel price revision in India. Multiple government sources and media reports have flagged that a Rs 2–4 per litre hike could come as early as Q2 FY27 if crude stays elevated.

What the LPG and CNG Picture Looks Like

LPG prices also matter hugely for Indian households. A 14.2-kg domestic cylinder is currently priced at Rs 912.50 in most of India (with regional variations based on subsidies). CNG — used by auto-rickshaws, taxis, and private vehicles in NCR, Mumbai, Pune, and other cities — has seen a few city-level revisions in recent months but broadly remains below the pre-war escalation point. The government's Ujjwala Yojana subsidy system provides some cushion to BPL households, though subsidy calculations are adjusted quarterly.