Indian commuters saw little change in petrol and diesel prices across major cities on September 27, 2026, even as global crude oil benchmarks continued their upward trajectory. This stability comes despite Brent crude trading above $104 per barrel, placing considerable financial strain on state-run oil marketing companies (OMCs).
OMCs Absorb Rising Import Costs
According to rating agency ICRA, Indian OMCs are incurring losses of approximately ₹530 crore daily. This severe financial squeeze results from the widening gap between the rising international crude prices and the stagnant domestic retail rates for petrol, diesel, and cooking gas. Despite the global rally, pump prices have not been adjusted, forcing retailers to absorb the full impact of the price surge.
As of September 26, Brent crude was recorded at $104.3 per barrel, while WTI crude stood at $92.41 per barrel. Fresh geopolitical tensions in West Asia and attacks on key oil facilities have further impacted global energy supply, contributing to the uncertainty in crude markets.
City-Wise Fuel Rates on September 27, 2026
The retail prices for petrol and diesel across major Indian metros on September 27, 2026, were largely unchanged from the previous day:
- Mumbai: Petrol at ₹111.21 per litre, Diesel at ₹97.83 per litre.
- Delhi: Petrol at ₹102.12 per litre, Diesel at ₹95.20 per litre.
- Kolkata: Petrol at ₹113.51 per litre, Diesel at ₹99.82 per litre.
- Chennai: Petrol at ₹107.76 per litre, Diesel at ₹99.55 per litre.
- Bengaluru: Petrol at ₹111.68 per litre, Diesel at ₹99.56 per litre.
- Hyderabad: Petrol at ₹116.15 per litre, Diesel at ₹104.23 per litre.
Delhi consistently maintains relatively lower fuel costs compared to other major metro cities due to varying state tax structures.
Why Fuel Prices Differ Across Cities
Fuel prices in India exhibit variations from city to city primarily due to differences in local state taxes, transportation charges, and dealer commissions. While the base price of petrol or diesel from oil refineries is uniform nationwide, these local variables significantly influence the final retail price at the pump. Both central and state government taxes constitute a substantial portion of the final price, explaining the discrepancies across states and cities.
Despite the volatility in global crude oil prices and the ongoing losses for OMCs, government sources have indicated that there is currently no proposal to increase petrol and diesel rates domestically. However, the rupee-dollar exchange rate remains a critical factor, as India heavily relies on imported crude; a weakening rupee directly increases procurement costs, potentially leading to higher retail prices.