New Delhi, March 12: Petrol prices across major cities continued to remain steady on Thursday, as oil marketing companies maintained retail pump prices without changes. In the national capital Delhi, petrol continues to retail at INR 94.77 per litre, while Mumbai remains one of the most expensive metro markets with petrol priced at INR 103.54 per litre.

Despite volatility in global energy markets, domestic fuel retailers have kept retail rates stable for now. International benchmarks such as Brent crude continue to hover close to the USD 100 per barrel mark amid geopolitical tensions involving the United States, Israel and Iran, raising concerns about possible disruptions to global oil supply routes in West Asia. Pakistan: Petrol, Diesel Prices Surge by Nearly INR 55 per Litre Amid Iran War and Spike in Global Oil Rates; More Hikes Likely.

Petrol Price Today, March 12, 2026

City Petrol Price (per litre)
Hyderabad INR 107.46
Kolkata INR 105.41
Jodhpur INR 105.28
Jaipur INR 104.69
Pune INR 104.04
Mumbai INR 103.54
Bengaluru INR 102.99
Chennai INR 100.80
Srinagar INR 100.64
Gurugram INR 95.51
Noida INR 94.88
Delhi INR 94.77
Ghaziabad INR 94.70
Lucknow INR 94.69
Ahmedabad INR 94.49

Indian oil marketing companies (OMCs) such as IOCL, BPCL and HPCL appear to be continuing a calibrated pricing strategy, absorbing short term fluctuations in global crude prices rather than immediately passing the impact to consumers. Petrol Price Today, March 11, 2026: Check Petrol Prices in Delhi, Mumbai, Chennai and Other Cities.

This strategy relies on margins accumulated during periods of lower crude oil prices, allowing companies to temporarily cushion domestic retail rates even when international benchmarks rise.

Fuel prices at the pump are determined by several factors including the base cost of crude oil, USD INR exchange rate, freight charges and government taxes. The Indian rupee continues to trade close to INR 92 per US dollar, which increases the cost of crude imports.

Central excise duty and state level VAT together account for a large portion of the final retail petrol price. These taxes also explain why fuel prices differ across cities such as Hyderabad, Mumbai and Ahmedabad.

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(The above story first appeared on LatestLY on Mar 12, 2026 08:39 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).