New Delhi: India is eagerly anticipating the Union Budget 2026, set to be announced on February 1, 2026, Sunday. Finance Minister Nirmala Sitharaman is expected to rely on petrol and diesel duties to boost government revenues. Analysts suggest she may raise excise duties without burdening consumers, offsetting the hike against last year’s retail price cuts.

On Sunday morning, Petrol and diesel rates remained largely stable with slight fluctuations in some metro cities and state capitals in India. However, geopolitical tensions and global tariff pressures could have long-term implications for South Asia, including India.

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In Mumbai, petrol was priced at ₹103.54 per litre on Sunday. In Chennai and Hyderabad, prices dipped slightly to ₹100.80 and ₹107.46 per litre respectively, as compared to yesterday.

Also Read | Historic Sunday; 4 poll-bound states; open stock market: What to expect from Union Budget 2026 

No major price uptick was observed in diesel rates as of Sunday morning, being priced at ₹90.03 per litre in Mumbai, with slight variations across major cities like Chennai, Jaipur, and Patna.

Petrol and diesel prices in major Indian cities on February 1, 2026

City

Petrol (₹/litre)

Diesel (₹/litre)

New Delhi

₹94.77

₹87.67

Kolkata

₹105.41

₹92.02

Mumbai

₹103.54

₹90.03

Chennai

₹100.80

₹92.39

Gurgaon

₹95.65

₹88.10

Noida

₹95.05

₹88.19

Bangalore

₹102.96

₹90.99

Bhubaneswar

₹101.03

₹92.60

Chandigarh

₹94.30

₹82.45

Hyderabad

₹107.46

₹95.70

Jaipur

₹104.72

₹90.21

Lucknow

₹94.69

₹87.81

Patna

₹106.11

₹92.32

Thiruvananthapuram

₹107.49

₹96.48

Note: Prices already include state taxes and may vary slightly within districts.

Fuel costs remain influenced by global oil trends, domestic tax policies and currency exchange rates.

LPG prices

Oil marketing companies have raised the price of commercial LPG cylinders. Effective today, February 1, the cost of a 19 kg commercial LPG cylinder has been increased by ₹49. In Delhi, the retail price of the 19 kg cylinder now stands at ₹1,740.50.

The average price of a 14.2 kg domestic LPG cylinder across major Indian cities remains unchanged at ₹852.50, with no recent change in rates. Prices have remained stable since April 2025, following a ₹50 hike in April 2025.