Fuel price tracker: How petrol, diesel and ATF prices have changed since the US-Iran war began

Fuel prices in India have come under pressure since the US-Iran war began on 28 February, which is now approaching its seventh week. The changes come as disruptions to global crude supply pushed oil prices higher. Brent crude, for instance, surged by over 50% following the outbreak of hostilities, driven by supply concerns and disruptions in the Strait of Hormuz, a key shipping route.

While domestic petrol and diesel prices have remained relatively stable during the period due to government intervention and excise duty cut, other fuels such as aviation turbine fuel (ATF) and premium petrol have seen noticeable increases. Here's how petrol, diesel, and ATF prices have changed since the conflict began.

In major cities like New Delhi, petrol continues to be priced at around ₹94.77 per litre and diesel at ₹87.67 per litre, with no major changes over recent weeks. Meanwhile, in Mumbai, petrol prices today stood at ₹103.54 per litre, while diesel was priced at ₹90.03.

However, the price of premium petrol was hiked by ₹2.35 per litre from March 20, according to media reports. “Prices of Bharat Petroleum’s Speed, Hindustan Petroleum’s Power, and Indian Oil’s XP95 have been increased by ₹2.09– ₹2.35/litre,” according to news agency ANI.

OMCs revise petrol and diesel prices every day at 6 AM to keep domestic fuel rates aligned with international crude oil prices and currency exchange rates. The retail rate is influenced by several factors, including international crude oil prices, the rupee-dollar exchange rate, and taxes imposed by the central and state governments.

The Ministry of Petroleum and Natural Gas said earlier that PSU OMCs, in consultation with the Ministry of Civil Aviation, have decided to pass on only a partial, staggered increase of 25% (only ₹15/litre) to domestic airlines. In contrast, airlines operating on international routes will bear the full increase in ATF prices, consistent with what they pay elsewhere.

The move was aimed at insulating domestic travel costs from the substantial increase in international prices, while allowing gradual adjustment for the aviation sector.

ATF price in Delhi was hiked by ₹110,703 per kilolitre, or 114.5%, to ₹207,341 per kl, according to state-owned fuel retailers. ATF, being a completely deregulated product, is priced at prevailing benchmark international prices. This is in accordance with a written understanding with the airlines, according to news agencies.

The export duty on ATF has also been hiked to ₹42/litre from ₹29.5/litre, an increase of ₹12.5/litre, with immediate effect. However, the duty on petrol remains nil, as per the report.

Previously, in March, the centre had imposed an export duty of ₹21.50/litre on diesel and ₹29.50 per litre on ATF. The hike was intended to increase domestic fuel availability amid supply disruptions. They were also aimed at preventing exporters from taking undue advantage of price differences, as crude oil prices had risen globally since the beginning of the war.