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Prices for premium petrol and diesel have risen, with the government dismissing rumours of further increases post-elections.
Bengaluru: Autorickshaws queue up near a fuel station amid LPG and petrol price hike, in Bengaluru, Wednesday, April 1, 2026. (PTI)Petrol and diesel prices in India remained steady on April 26, 2026, despite continued volatility in global oil markets driven by geopolitical tensions in West Asia.
Oil marketing companies (OMCs) revise fuel rates daily at 6:00 AM, based on changes in international crude prices and currency exchange rates. This daily pricing system is intended to improve transparency and keep retail fuel costs aligned with global trends.
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.54 | 90.03 |
| Kolkata | 105.41 | 92.02 |
| Hyderabad | 107.46 | 95.70 |
| Bengaluru | 102.92 | 90.99 |
| Chennai | 100.80 | 92.39 |
State-run oil marketing companies (OMCs) have raised prices for premium petrol and diesel fuels that make up about 4% of total sales, as well as industrial diesel, which is typically bought in bulk by industries and the agriculture sector.
Will fuel prices rise soon?
Recent reports have suggested that petrol and diesel prices could increase after the conclusion of the assembly elections. However, the government has dismissed these claims as “mischievous and misleading,” stating that no such proposal is currently under consideration.
The clarification followed a report by Kotak Institutional Equities, which had indicated a possible sharp hike in fuel prices after polling ends in states like West Bengal on April 29. The report estimated a potential increase of ₹25–28 per litre if crude oil prices remain around $120 per barrel.
Hormuz disruption, $100 oil pose risks to India's inflation, rupee: Union Bank
According to a report by Union Bank, titled “From Hormuz to the Rupee: War, Oil and the Global Repricing of Risk” it said that with the Strait of Hormuz “still functionally shut and Brent trading above $100/bbl, the backdrop does not bode well for global or domestic macros and markets.”
It added that "higher oil keeps inflation risk alive, delays central-bank easing, pressures current accounts, tightens financial conditions, and weighs on risk assets, especially in energy-importing economies," underlining the vulnerability of countries like India.
For India, which imports nearly 85 per cent of its crude oil, the impact is already visible. The report noted that the disruption in Hormuz flows has pushed oil prices above USD 100 per barrel, translating into a visible "energy tax" on the economy.
West Asia war: What's latest?
Iran's President Masoud Pezeshkian has said that Iran will not enter into negotiations under pressure, threats, and siege, Mehr News Agency reported on Sunday. During his telephonic conversation with Pakistan's Prime Minister Shehbaz Sharif, Pezeshkian, criticised continued violations and coercive behaviour by the US during both the negotiations and the ceasefire period, the Mehr News Agency report revealed.
The United States is pushing for Iran to halt its nuclear programme, while Tehran has said any such restriction should only be temporary. Washington has also demanded control over Iran’s stockpile of about 400 kg of highly enriched uranium, a request Iran has rejected, according to Al Jazeera.
Higher oil keeps inflation risk alive, delays central-bank easing, pressures current accounts, tightens financial conditions, and weighs on risk assets.
Iran has stated it will continue restrictions on shipping through the Strait of Hormuz until the U.S. lifts its blockade on Iranian ports. However, US President Donald Trump has said the blockade will remain until a broader agreement is reached. Tehran is also seeking sanctions relief and the release of around $20 billion in frozen assets as part of any long-term deal.
(With inputs from agencies)
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