India Fuel Watch
Tracking the impact of the West Asia conflict on India's petrol, diesel, LPG prices, oil marketing companies, and 1 lakh+ fuel outlets.
Fuel prices remain stable in India despite rising global oil prices as government policy and OMC margin absorption cushion pump prices.
Market Indicators
Brent Crude
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USD/barrel
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WTI Crude
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USD/barrel
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USD / INR
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Exchange Rate
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Gold
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USD/oz
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Natural Gas
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USD/MMBtu
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Source: OilPriceAPI (Brent, WTI), Yahoo Finance (Gold, Gas, Forex)
OMC Loss Meter
HIGH
Margin Pressure
Petrol Under-recovery
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per litre
Diesel Under-recovery
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per litre
Daily OMC Loss
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Petrol + Diesel + LPG combined
Excise Duty Cut (Mar 27)
Petrol Excise----
Diesel Excise----
Fiscal cost of tax cut--
% of OMC losses offset--
OMC Stock Impact
Moody's WarningMargin & cash-flow pressure
Nayara (private) hike+₹5.30 petrol, +₹3 diesel
Source: Yahoo Finance, Moody's
Who Absorbs the Fuel Shock?
Consumers
Pump prices stable
No retail hike since Apr 2022. Shielded by govt policy.
Government
Excise cut ₹10/L
Fiscal cost ₹1.55L Cr/yr. Offsets 30-40% of OMC losses.
OMCs
₹2,400 Cr/day loss
IOC, BPCL, HPCL absorb the gap. Stock prices down 15-23%.
Supply Status Across India
--Retail outlets
--Days of stock
NoRationing ordered
ActiveOvernight depots
India LPG Supply Situation
Domestic LPG (14.2 kg)
Delivery delays7-45 days
Black market premiumUp to ₹4,000
Ujjwala refill gap45 days min
Hike (Mar 7)+₹60/cylinder
Import dependency~60%
Import sources--
New connections--
Commercial LPG (19 kg) Hiked Apr 1
Apr 1 hike--
Mar 4 hike+₹114.50
2 hikes in 28 days+₹310 total
OMC under-recovery--
ImpactRestaurants, hotels, street vendors
Production--
Requirement--
Global Petrol Prices (₹ per litre)
Comparison of petrol prices across major economies. India's prices are frozen since April 2022.
#
Country
₹/L
Source: GlobalPetrolPrices, EIA, OGRA, Fuel Finder UK, Goodreturns. Data: Mar 30 – Apr 1, 2026. ₹ equivalent at current exchange rates.
War Impact: Pre-war vs Now
How petrol prices changed across major economies since the West Asia conflict began
| Country | Now (₹/L) | Pre-war | Change | Tax | Pricing | Notes |
|---|---|---|---|---|---|---|
| Hong Kong | ₹300–340 | ₹290 | +33% | ~22% | Market driven | High margins + land costs |
| Germany | ₹200–220 | ₹170 | +26% | ~55–60% | Tax regulated | Energy tax + CO₂ + VAT |
| UK | ₹175–195 | ₹152 | +19% | ~60% | Tax driven | Fuel duty + 20% VAT |
| South Korea | ₹120–140 | ₹100 | +22% | ~40% | Tax adjusted | Temp fuel tax reductions |
| Brazil | ₹110–130 | ₹93 | +18% | ~40% | Partial market | Petrobras pricing |
| Japan | ₹110–125 | ₹100 | +11% | ~45% | Subsidy stabilised | Govt subsidies to refiners |
| China | ₹100–120 | ₹86 | +20% | ~35% | Pricing band | NDRC crude price window |
| Pakistan | ₹100–120 | ₹82 | +29% | ~30% | Govt controlled | PKR 55/L hike Mar 7 (IMF) |
| USA | ₹80–95 | ₹71 | +42% | ~15% | Market driven | Low tax, full pass-through |
| India (Delhi) | ₹94.77 | ₹94.77 | 0% | ~55% | Administered | Frozen since Apr 2022 |
| Bangladesh | ₹85–95 | ₹84 | +6% | ~25% | Semi regulated | Auto-pricing formula |
| Saudi Arabia | ₹55–60 | ₹53 | +9% | ~10% | Subsidized | Major oil producer |
Current prices (Apr 2026) from GlobalPetrolPrices, EIA, OGRA, Fuel Finder UK. Pre-war prices (Sep 2025, Brent ~$72/bbl) from GlobalPetrolPrices historical data. All converted to ₹/litre at prevailing exchange rates. % change reflects each country's policy response — tax cuts, subsidies, price freezes, or full pass-through. Tax data from Tax Foundation, RAC Foundation, PPAC, Kwiksure. India's ₹94.77 from IOCL — unchanged since Apr 2022. The 0% means OMCs absorb the loss, not that crude hasn't moved.
Tax Breakdown by State
Central Excise (post Mar 27 cut)
Petrol: Base excise--
Petrol: SAED--
Petrol: Total central tax--
Diesel: Base excise--
Diesel: SAED--
Diesel: Total central tax--
Why prices differ by state
Retail fuel prices = Base price + Central excise + State VAT + Dealer commission. Central excise is uniform across India, but each state sets its own VAT rate. This is why Mumbai petrol costs ₹103.54 while Delhi pays ₹94.77.
Tax share in retail price40-55%
Highest VAT state (petrol)Telangana (35.2%)
Lowest VAT state (petrol)A&N Islands (1%)
Consumer Impact Calculator
See how much more you'd pay if fuel prices were market-linked (compared to current frozen prices).
Note: Retail fuel prices haven't changed, but OMCs are absorbing the loss. If prices were market-linked, this is what you'd pay. Source: PPAC, RBI