On April 29, 2026, petrol and diesel prices across India held steady, offering relief to consumers despite ongoing volatility in global crude oil markets. The stability comes as West Asia tensions and disruptions to key shipping routes continue to keep international oil prices on edge.
Government Holds Firm on Fuel Prices
The Indian government has reiterated its commitment to not increase petrol and diesel prices following the West Bengal elections, which also concluded on April 29. This assurance was issued to counter speculation and address instances of panic buying, particularly noted in Andhra Pradesh, fueled by rumors of an impending price hike.
This decision provides a buffer for consumers at a time when global oil markets are experiencing significant fluctuations, potentially shielding domestic fuel retailers from increasing losses.
Current Fuel Prices in Major Indian Cities (April 29, 2026)
As of April 29, 2026, fuel prices in key metropolitan areas were recorded as follows:
- Delhi: Petrol at Rs 94.77 per litre, Diesel at Rs 87.67 per litre.
- Mumbai: Petrol at Rs 103.54 per litre, Diesel at Rs 90.03 per litre.
- Hyderabad: Petrol at Rs 107.46 per litre, Diesel at Rs 95.70 per litre.
- Kolkata: Petrol at Rs 105.45 per litre, Diesel at Rs 92.02 per litre.
- Bengaluru: Petrol at Rs 102.99 per litre, Diesel at Rs 91.06 per litre.
- Chennai: Petrol at Rs 101.23 per litre, Diesel at Rs 92.81 per litre.
Notably, petrol prices in Bengaluru, Hyderabad, Kolkata, Mumbai, and Chennai remained above the Rs 100 per litre mark, while diesel prices in these cities stayed below Rs 100.
Factors Influencing Fuel Costs in India
Several interconnected factors determine the retail price of petrol and diesel in India:
- International Crude Oil Prices: As India is a major importer of crude oil, global crude rates are the primary driver of domestic fuel prices.
- Rupee-Dollar Exchange Rate: A weaker Indian Rupee against the US Dollar increases the cost of crude oil imports, directly impacting retail prices.
- Central and State Taxes: Both the Union and state governments levy significant taxes, which constitute a substantial portion of the final price, leading to price variations across different states.
- Transportation Costs: The logistical expenses involved in transporting fuel from refineries to distribution points also contribute to the pump price.
- Demand-Supply Dynamics: Local demand and supply conditions can also play a role in minor price adjustments.
The government's current decision to maintain price stability reflects a strategic move to manage economic pressures and public sentiment amidst a complex global and domestic environment.