The federal government has no direct position in deciding costs of petrol and diesel, as charges are market-driven, and public sector oil corporations resolve the prices, the petroleum ministry mentioned on Monday.
Minister of state for petroleum and pure fuel Suresh Gopi gave the response within the Rajya Sabha whereas answering a query on whether or not the federal government deliberate to cut back petrol and diesel costs amid a sustained decline in worldwide crude oil costs.
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Govt factors to lower cost rise in India
The federal government mentioned that regardless of volatility in international crude oil and petroleum product costs, the rise in petrol and diesel costs in India between June 2021 and June 2026 was a lot decrease than in a number of developed and neighbouring international locations.
In Delhi, petrol costs rose 8.1% throughout this era, whereas diesel costs elevated 11.5%.
By comparability, petrol costs rose 70.6% within the US, 59.9% in France, 51.1% in Germany and 46.9% within the UK. In neighbouring international locations, petrol costs elevated 160.6% in Pakistan, 148.6% in Sri Lanka and 76% in Nepal, the minister added.
Diesel costs rose 97.4% within the US, 71.2% in France, 63% in Germany and 62.5% within the UK. The rise was 148.9% in Pakistan, 207.1% in Sri Lanka and 111.8% in Nepal.
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Crude costs rose throughout US-Israeli conflict on Iran
The federal government additionally commented on the sharp rise in crude oil costs following the conflict in West Asia. Based on the ministry, the value of India’s crude oil basket was round $69 per barrel in February 2026. It rose to $136.68 per barrel in March and continued to fluctuate as a consequence of geopolitical and market components.
The federal government mentioned PSU oil corporations absorbed a big a part of the rise as a substitute of absolutely passing it on to shoppers.
Because of this, all three main PSU OMCs reported losses within the first quarter of 2026-27.
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Indian Oil Company reported a lack of ₹2,662 crore, Bharat Petroleum Company Ltd reported a lack of ₹3,962 crore, whereas Hindustan Petroleum Company Ltd reported a lack of ₹11,526 crore.
Excise responsibility reduce by ₹10 per litre
The federal government additionally mentioned it diminished excise responsibility on each petrol and diesel by ₹10 per litre in March 2026 to guard shoppers from the impression of rising worldwide crude costs.
This additionally led to a considerable discount in authorities tax income.
The federal government didn’t announce any recent discount in petrol or diesel costs.
Petrol-diesel charges in India
As of August, petrol and diesel costs proceed to differ throughout cities as a consequence of variations in state taxes and native levies.
In Delhi, petrol is priced at ₹102.12 per litre and diesel at ₹95.20. In Mumbai, petrol prices ₹111.21 and diesel ₹97.83, whereas in Chennai, the charges are ₹107.77 and ₹99.55, respectively.
Bengaluru has petrol at ₹111.68 per litre and diesel at ₹99.56. Costs in different main cities similar to Kolkata and Hyderabad stay above ₹110 per litre for petrol.
Because the US-Israel conflict on Iran started on February 28, India raised retail petrol and diesel costs fairly just a few instances. The primary main improve got here on April 16, when state-run oil corporations raised each petrol and diesel by ₹3 per litre.
Costs had been then raised once more in Might: a second hike of about ₹0.90 per litre got here on Might 19, adopted by one other improve later that month. After three hikes since Might 15, the cumulative improve in Delhi had reached ₹4.74 per litre for petrol and ₹4.82 for diesel.
