Petrol Price Today, March 28, 2026: Check Petrol Rates in Delhi, Mumbai, Chennai and Other Cities

Mumbai, March 28: Retail petrol prices (petrol rates) across India remained largely unchanged on Saturday, March 28, as the central government intervened to shield consumers from surging international oil costs. In the national capital, petrol continues to retail at INR 94.77 per litre, while prices in Mumbai held steady at INR 103.54. This stability follows a significant policy shift on Thursday, where the Finance Ministry slashed special additional excise duties by INR 10 per litre to offset a dramatic spike in global crude benchmarks caused by the ongoing conflict in West Asia.

Scroll down to check petrol prices today, March 28, in Delhi, Chennai, Mumbai, Kolkata, Lucknow, Pune, Bengaluru, Hyderabad, Jodhpur, Jaipur, Srinagar, Noida, Ghaziabad, Gurugram and Ahmedabad. Petrol Price Today, March 27, 2026: Check Petrol Rates in Delhi, Mumbai, Chennai and Other Cities.

City-Wise Petrol Rates Today, March 28, 2026

Despite the national trend of stability, retail prices continue to vary across states due to local Value Added Tax (VAT) and freight charges. South Indian hubs like Hyderabad and Bengaluru continue to see some of the highest pump prices in the country.

Petrol Rate Today, March 28, 2026

The Impact of Global Volatility

The decision to hold prices steady comes as Brent crude futures hover near USD 112 per barrel, up nearly 40 per cent since the onset of hostilities in the Middle East in late February. Disruptions in the Strait of Hormuz - a critical transit point for a fifth of the world's energy supply - have pushed global energy markets into a period of high volatility. Finance Minister Nirmala Sitharaman noted on Friday that while many neighbouring nations have seen fuel hikes of 20 per cent to 50 per cent, the Indian government is prioritising price "insulation" for its citizens. By reducing the excise duty on petrol to just INR 3 per litre (and cutting diesel duty to zero), the government is effectively absorbing a massive fiscal hit to prevent inflationary pressure on the domestic economy.

Oil Marketing Companies and Under-Recoveries

While the excise duty cut provides relief, industry experts clarify that consumers should not expect a further drop in pump prices immediately. State-run Oil Marketing Companies (OMCs) like Indian Oil, BPCL, and HPCL are currently absorbing "under-recoveries" estimated at nearly INR 24 per litre on petrol. The duty reduction is primarily designed to narrow this gap and prevent OMCs from passing these massive international losses onto the public. Last week, minor hikes were seen in premium petrol variants (such as XP95 and Speed), which rose by roughly INR 2 per litre, but regular fuel remains under the government’s stabilisation umbrella. How To Apply for MGL PNG Connection in Mumbai: A Step-by-Step Guide.

As the financial year draws to a close, market analysts remain focused on the April 6 diplomatic deadline regarding regional energy infrastructure. While domestic stocks are currently at healthy levels, a prolonged closure of major shipping routes could test the government's ability to maintain these subsidised rates through the next quarter. For now, the "no-hike, no-cut" stance remains the status quo for the Indian consumer.

(The above story first appeared on LatestLY on Mar 28, 2026 09:17 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).