Petrol-Diesel Prices on March 30: Check rates in Bengaluru, Delhi, Mumbai, Kolkata, and 11 other cities

Petrol-Diesel Price Today in India: Fuel prices in major Indian cities stayed mostly unchanged on Monday, even though global crude oil prices have risen sharply in recent weeks due to growing geopolitical tensions. In Delhi, petrol is still priced at Rs 94.77 per litre and diesel at Rs 87.67 per litre. In Mumbai, petrol costs Rs 103.49 per litre, while diesel is around Rs 90.03 per litre.

Today’s price of Brent crude oil

On Monday morning, Brent crude rose 2.4 per cent to $115.33 per barrel, taking its monthly gain to 59 per cent – higher than the surge seen during Iraq’s invasion of Kuwait in 1990. US crude also increased by 3 per cent to $102.52, with a monthly rise of 53 per cent, according to Reuters.

After the US-Israel strikes on Iran in late February, Brent crude prices have jumped by more than 50 per cent, raising concerns about supply and market stability. Despite this surge, petrol and diesel prices in India have not been increased yet. Rates have remained steady across major cities.

Fuel prices in India are revised daily by the three state-run oil companies – Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) – based on global crude prices and currency movements. However, they have not made any changes to retail prices so far.

Check city-wise Petrol, Diesel prices here

What factors affect fuel prices in India?

Several factors affect fuel prices in India. The biggest factor is global crude oil prices, as crude is the main raw material for petrol and diesel. The rupee’s value against the US dollar also matters, since India imports most of its crude oil. If the rupee weakens, fuel prices can go up.

Taxes charged by the central and state governments make up a large part of fuel prices, which is why rates differ from state to state. Transport costs and demand-supply conditions also play a role in deciding final prices.

Due to rising energy prices, traders now believe the US Federal Reserve is unlikely to cut interest rates this year, as higher oil prices could push inflation up. This is a shift from earlier expectations of two rate cuts before the conflict began, Reuters reported.