Petrol Price Today, March 16, 2026: Check Petrol Prices in Delhi, Mumbai, Chennai and Other Cities
Petrol prices across India remained stable today, March 16, despite global crude oil hitting USD 103 per barrel. Delhi maintained the lowest rate at INR 94.77/L, while Hyderabad recorded the highest at INR 107.50/L. Although international volatility persists, domestic prices have held steady for months due to OMC cost absorption.
New Delhi, March 16: Retail petrol rates (petrol prices) across major Indian cities remained unchanged on Monday, March 16, providing a brief window of stability for consumers. State-run Oil Marketing Companies (OMCs) have maintained a steady price for more than six months, even as global crude oil benchmarks experienced significant fluctuations. In the national capital, petrol continues to retail at INR 94.77 per litre, while the financial hub Mumbai sees rates holding at INR 103.54 per litre.
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City-Wise Petrol Rates As of March 16, 2026
Fuel prices in India are revised daily at 6:00 AM under the dynamic pricing system. However, the final retail price varies significantly across states due to differing Value Added Tax (VAT), freight charges, and local levies.
Petrol Rate Today, March 16, 2026
| City | Petrol Price (per Litre) |
| New Delhi | INR 94.77 |
| Mumbai | INR 103.54 |
| Chennai | INR 100.84 |
| Kolkata | INR 105.45 |
| Bengaluru | INR 102.99 |
| Hyderabad | INR 107.50 |
| Pune | INR 104.39 |
| Ahmedabad | INR 94.49 |
| Lucknow | INR 94.69 |
| Jaipur | INR 105.13 |
| Noida | INR 95.12 |
| Gurugram | INR 95.51 |
| Ghaziabad | INR 94.58 |
| Srinagar | INR 100.64 |
| Jodhpur | INR 105.39 |
Market Context: The USD 100 Crude Barrier
The stability in domestic retail rates comes amid a turbulent international energy market. Brent crude futures were trading near USD 103.42 per barrel on Monday morning. Tensions in the Middle East, particularly around the Strait of Hormuz, have recently pushed global prices above the USD 100 mark for the first time in years. Despite these high input costs, Indian OMCs have largely absorbed the volatility to prevent inflationary shocks. Analysts estimate that at current crude levels, oil companies may be facing a gap between their procurement costs and retail selling prices, a deficit often referred to as "under-recoveries". What Is PNG Connection and How To Get It?
Factors Influencing Today's Petrol Rates
While the base price is set by global trends, several domestic factors determine what the consumer pays at the pump:
- Taxation: Central excise duty remains uniform, but State VAT can range from 15 per cent to over 30 per cent, explaining why petrol in Hyderabad is nearly INR 13 more expensive than in Delhi.
- The Rupee Factor: Since India imports nearly 85 per cent of its crude requirements, the USD-INR exchange rate is critical. A weaker rupee makes oil imports costlier.
- Dealer Commission: A fixed amount paid to petrol pump owners also contributes to the final tally.
While prices have been static for several months, industry experts warn that prolonged geopolitical instability could eventually force a retail hike. For now, the government's strategy of price management offers relief to the transportation and logistics sectors, which are heavily dependent on stable fuel costs to manage the pricing of essential commodities.
(The above story first appeared on LatestLY on Mar 16, 2026 09:21 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).