Fuel Prices Remain Steady On March 24 Despite 10% Drop In Global Crude Oil

The fuel prices for petrol and diesel are unchanged in India as of March 24, 2026, and the retail prices for petrol and diesel in Delhi are at ₹94.77 per liter and ₹87.67 per liter, respectively.

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Domestic Fuel Rates Hold Firm

Fuel prices across major cities showed no change despite volatility in international markets. In Mumbai, petrol was priced at ₹103.54 per litre and diesel at ₹90.03 per litre. It is recorded that petrol at ₹105.45 and diesel at ₹92.02, while Chennai stood at ₹100.84 for petrol and ₹92.39 for diesel. Bengaluru prices were ₹102.96 for petrol and ₹90.99 for diesel.

In Delhi, premium petrol variants were priced at ₹101.89 per litre, while high-speed diesel was at ₹92.45 per litre. Compressed natural gas (CNG) rates remained at ₹77.09 per kg, as per city gas distribution data.

Crude Oil Sees Sharp Correction

Global crude oil prices declined more than 10% from recent highs after U.S. President Donald Trump announced a five-day pause on planned strikes targeting Iranian energy infrastructure. Market data shows Brent crude trading near $100.36 per barrel, down from levels above $114 earlier in March, reflecting a decline of about 12%. West Texas Intermediate (WTI) crude was at $89.22 per barrel, down around 12.5% from previous highs.

Intraday data indicates crude prices fluctuated between $88.50 and $91.00 on March 24, with a previous close of $88.13, according to market data.

LPG Prices Remain Elevated

Domestic and commercial LPG prices are still based on the increase made on March 7, 2026. In Delhi, the LPG cylinder of 14.2 kg costs ₹913. In Mumbai and Chennai, the LPG cylinder costs ₹912.50 and ₹928.50, respectively. 

Supply Concerns Persist

The fall in crude oil prices has not reduced the concerns regarding oil supply due to disruptions in transit routes. Approximately 20% of the oil supply goes through the Strait of Hormuz, which has operational challenges, as per a report by Associated Press (AP).

The crude oil basket price in India was last seen trading at $149.93 per barrel on March 20, 2026.This reflects the high prices of crude oil imports during a tense period.

Government Measures On Gas Adoption

The Ministry of Petroleum and Natural Gas has begun taking steps to promote piped natural gas (PNG) and city gas adoption. As per reports by ANI, companies have been directed to use digital as well as offline mediums to increase awareness about gas adoption, particularly for commercial use.

Fuel prices in India have remained stable in recent times, with no immediate change in prices despite fluctuations in global markets and geopolitical tensions.