Petrol and Diesel Prices Today, March 5: When Was the Last Fuel Price Hike in India?
On March 5, 2026, petrol and diesel prices in India remained stable despite rising global crude costs due to Middle East tensions. Rates in Delhi stay at INR 94.72 and INR 87.62 respectively. Major nationwide hikes have been absent since May 2022, with a INR 2 cut in early 2024. OMCs are currently absorbing costs to shield consumers from volatility.
New Delhi, March 5: Petrol and diesel prices across major Indian metros remained largely unchanged on Thursday, March 5, 2026, continuing a long-standing trend of price stability despite a sharp surge in global crude oil markets. The freeze comes at a critical time as geopolitical tensions in the Middle East, specifically involving the Strait of Hormuz, have pushed Brent crude toward USD 85 a barrel.
When Was the Last Major Fuel Price Hike in India?
The last significant, nation-wide upward revision of fuel prices occurred in May 2022. Since then, the central government has largely utilised excise duty cuts and state-run Oil Marketing Companies (OMCs) have absorbed fluctuations to keep retail rates stable.
In March 2024, just ahead of the Lok Sabha elections, the government implemented a notable INR 2 per litre reduction in both petrol and diesel prices. Since that cut, the Indian fuel market has entered an extended period of "unofficial" price freezing, even during windows where international crude prices spiked significantly. Petrol Price Reaching INR 500 per Litre Is Fake News.
Petrol, Diesel Prices Today, March 5, in Delhi, Mumbai, Bengaluru, Chennai and Hyderabad
Retail prices vary across states due to differing Value Added Tax (VAT) rates and local freight charges. As of March 5, the rates in key cities are:
| City | Petrol (INR/Litre) | Diesel (INR/Litre) |
| Mumbai | INR 104.21 | INR 92.15 |
| Kolkata | INR 103.94 | INR 90.76 |
| Chennai | INR 100.75 | INR 92.34 |
| Bengaluru | INR 102.92 | INR 89.02 |
| Hyderabad | INR 107.46 | INR 95.70 |
How To Check Daily Petrol and Diesel Rates
Consumers can verify the exact rates in their specific town or city by sending an SMS to the following numbers provided by oil companies:
- Indian Oil: SMS RSP to 92249 92249
- Bharat Petroleum: SMS RSP to 92231 12222
- HPCL: SMS HPPRICE to 92222 01122
Impact of Middle East Tensions on Fuel Prices
The current stability is being tested by escalating conflict in West Asia. Recent reports indicate a 12% jump in crude prices over the first few days of this week following disruptions in the Persian Gulf. Iran War Disrupts Oil and Gas Flows, Highlighting Energy Security Risks.
Industry analysts suggest that OMCs are currently using "buffer margins" earned during periods of lower crude prices to cushion the current spike. However, if Brent crude sustains levels above USD 90 for an extended period, pressure may build for a retail price correction.
(The above story first appeared on LatestLY on Mar 05, 2026 02:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).