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Oil marketing companies adjust fuel prices daily at 6 AM based on international crude rates and currency movements. On April 23, 2026, petrol and diesel prices in India remained stable despite global fluctuations, with the government indicating ongoing stability as companies absorb volatility.
A petrol pump attendant picks up a nozzle to refuel a vehicle at an Indian Oil fuel station in Varanasi on March 10, 2026.(AFP)Petrol and diesel prices in India stayed steady on April 23, 2026, despite significant fluctuations in global oil markets driven by geopolitical tensions in West Asia.
Despite ongoing fluctuations in global oil prices, the Indian government has suggested that petrol and diesel rates are likely to remain stable for the time being. Oil marketing companies are reportedly absorbing some of the volatility to prevent sudden increases in fuel prices for consumers.
Check fuel prices in your cities here:
| New Delhi | 94.72 | 87.62 |
| Mumbai | 104.21 | 92.15 |
| Chennai | 100.75 | 92.34 |
| Bengaluru | 102.92 | 89.02 |
| Kolkata | 103.94 | 90.76 |
| Hyderabad | 107.46 | 95.70 |
| Patna | 105.58 | 93.80 |
| Chandigarh | 94.30 | 82.45 |
| Pune | 104.04 | 90.57 |
Oil marketing companies revise fuel prices every day at 6 AM, taking into account changes in international crude oil rates and foreign exchange movements. This daily pricing system is intended to maintain transparency and reflect real-time market conditions for consumers.
Oil extends gain amid Middle East war
Oil prices rose for a fourth straight day as tensions between the United States and Iran continued over control of the Strait of Hormuz, following a failure to agree on a new round of peace talks.
Brent crude traded near $104 per barrel after surging nearly 13% over the previous three sessions, while West Texas Intermediate hovered around $95. U.S. US President Donald Trump said the April 7 truce would remain in effect indefinitely as Washington awaits a new peace proposal from Iran, although Tehran has indicated it is not planning any immediate negotiations.
US stocks rose
U.S. stocks climbed to fresh record highs on Wednesday, driven by stronger-than-expected early-year profits from major firms including GE Vernova and Boston Scientific, among others.
Despite the gains, some caution remained on Wall Street as oil prices rose amid uncertainty over the ongoing conflict involving Iran.
The S&P 500 rose 1% to surpass its previous all-time high set on Friday. The Dow Jones Industrial Average gained 340 points, or 0.7%, while the Nasdaq Composite also hit a new record, advancing 1.6%.
The recent upward momentum has been strong, with the S&P 500 posting gains in 13 of its last 16 trading sessions.
Iran-US war: What's latest?
Pakistan had been planning to host a second round of talks, but the White House reportedly suspended Vice President JD Vance’s scheduled visit to Islamabad after Iran refused to engage in renewed negotiations, AP reported.
Iran has acknowledged the extension of the ceasefire but has not indicated any willingness to participate in fresh talks aimed at ending the conflict, according to state television.
At the same time, Iranian semiofficial media outlets reported that the Islamic Revolutionary Guard Corps launched an attack on a third vessel in the Strait of Hormuz on Wednesday, raising further doubts about diplomatic efforts to de-escalate tensions.
Nour News, Fars, and Mehr reported that the ship, identified as Euphoria, was left stranded near the Iranian coast, though no further details were provided. Iranian state television also said the Guard had already seized the other two previously targeted vessels.
(With inputs from agencies)
Key Takeaways
- Fuel prices in India have remained stable despite global fluctuations.
- Oil marketing companies are absorbing price volatility to protect consumers.
- Geopolitical tensions, particularly involving Iran, significantly impact global oil markets.
About the Author
Mausam Jha
Mausam Jha is a journalist who focuses on world affairs and politics. She provides clear, informative reporting with a good understanding of both global events and their local impact. <br><br> Her clear, accessible reporting on political and international issues makes her a trusted source of news and analysis. <br><br> For the past three years, Mausam has worked with Mint, covering national politics, IR—including elections—and global affairs.<br> Before joining her current role, she gained experience working with The Statesman, ANI, and Financial Express, where she honed her skills in political and international news. <br><br> She has consistently tracked key electoral battles, including US elections, Japan elections, policy debates, and strategic affairs, explaining how global currents, from great power competition to regional conflicts <br><br> Beyond journalism, Mausam has a deep engagement with international relations, diplomacy, war studies, terrorism, political history, and political theory. She is particularly interested in the intersection of statecraft and society on how governance, ideology, and institutions shape lived realities, and how politics shape today's world order. <br><br> An avid reader of classical literature and political thought, she constantly explores the connections between historical ideas and contemporary policy challenges.
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