On October 5, 2026, consumers across India's major cities saw no change in petrol and diesel prices, even as global crude oil prices remained elevated above $100 per barrel amidst ongoing geopolitical tensions in West Asia. This stability comes despite significant pressure on state-run oil marketing companies (OMCs).
OMCs have largely absorbed the increasing supply costs, preventing a direct pass-through to retail fuel prices. According to rating agency ICRA, these companies are currently incurring daily losses estimated at around ₹530 crore due to the widening gap between international fuel costs and domestic retail selling prices.
In contrast to the state-run firms, private fuel retailer Nayara Energy has implemented price adjustments, raising petrol by ₹5 per litre and diesel by ₹3 per litre at its outlets, highlighting the financial strain on fuel retailers.
Current Fuel Prices in Major Indian Metros (October 5, 2026)
Here is a detailed look at the latest petrol and diesel rates:
- Mumbai: Petrol is priced at ₹111.21 per litre, with diesel at ₹97.83 per litre.
- Delhi: The national capital sees petrol at ₹102.12 per litre and diesel at ₹95.20 per litre, generally lower than other metros.
- Kolkata: Residents pay ₹113.51 per litre for petrol and ₹99.82 per litre for diesel.
- Chennai: Petrol stands at ₹107.76 per litre, while diesel is ₹99.55 per litre.
- Bengaluru: Rates are ₹111.68 per litre for petrol and ₹99.56 per litre for diesel.
- Hyderabad: Petrol is the highest among these cities at ₹116.15 per litre, with diesel at ₹104.23 per litre.
Factors Influencing Fuel Price Variations
Fuel prices exhibit significant variation across Indian cities due to several key factors:
- State and Central Taxes: Both central and state governments levy taxes that form a substantial portion of the final retail price. State-specific taxes can differ significantly, leading to price disparities.
- Transportation Costs: The cost of transporting fuel from refineries to distribution points and then to individual pumps adds to the final price.
- Dealer Commissions: Retailer commissions also contribute to the pump price.
- Rupee-Dollar Exchange Rate: India heavily relies on crude oil imports. A weaker rupee against the US dollar increases the cost of procurement, which can eventually impact retail prices.
As global crude oil markets remain volatile, especially with geopolitical tensions in West Asia, continued pressure on India's oil import bill is expected. For daily commuters, while prices have remained stable recently, they remain elevated compared to previous years. Monitoring local rates is advisable, as city-specific taxes continue to create regional differences in fuel costs.