Household budgets are set to face a fresh pinch as oil marketing companies (OMCs) announced a significant revision in fuel and gas prices today. While petrol and diesel prices saw minor adjustments in select regions, the primary headline is a steep hike in LPG cylinder prices effective from March 7, 2026.

The price revision comes amid rising global energy costs fueled by the ongoing West Asia conflict and supply chain concerns.

LPG price hike: Domestic and commercial gas get costlier

In a major blow to consumers, the price of a 14.2 kg domestic LPG cylinder has been hiked by ₹60. Additionally, 19 kg commercial LPG cylinders used by restaurants and hotels have seen an even sharper increase of ₹114.50 to ₹115.

Petrol and diesel prices today: City-wise rates

Petrol prices in India have shown slight volatility today, with a marginal increase in some metros, while diesel rates remain largely steady. In Mumbai, petrol is retailing at ₹103.54 per litre, reflecting the impact of local VAT and transportation charges.

Latest Fuel Rates (March 7, 2026):

New Delhi: Petrol ₹94.77 | Diesel ₹87.67

Mumbai: Petrol ₹103.54 | Diesel ₹90.03

Kolkata: Petrol ₹105.41 | Diesel ₹92.02

Chennai: Petrol ₹101.06 | Diesel ₹92.61

Kochi: Petrol ₹107.48 | Diesel ₹96.18

Bengaluru: Petrol ₹107.48 | Diesel ₹90.99

Why are fuelprices rising?

Several factors contribute to the daily revision of fuel rates in India:

  • Global Crude Oil Prices: Brent crude has seen a surge due to geopolitical tensions between the US and Iran.
  • Currency Exchange: A fluctuating USD to INR rate affects the cost of importing crude oil.
  • Taxation: Central Excise Duty and state-level VAT (Value Added Tax) make up a significant portion of the retail price.
  • Dealer Commissions: Adjustments in margins for petrol pump dealers also influence final costs.

How to check daily fuel prices?

You can check the latest petrol and diesel prices in your city by sending an SMS to the official numbers of OMCs:

Indian Oil (IOCL): SMS RSP <Dealer Code> to 92249 92249

Bharat Petroleum (BPCL): SMS RSP <Dealer Code> to 92231 12222

Hindustan Petroleum (HPCL): SMS HPPRICE <Dealer Code> to 92222 01122