Petrol, Diesel Prices In Your City Today - 14 March: Fuel Rates In Bengaluru, Mumbai, Delhi Amid Middle East Conflict

(MENAFN- Live Mint) Petrol, diesel prices on 14 March 2026: Petrol and diesel prices across several Indian cities witnessed slight price movement but rates largely remained unchanged on Saturday. This stability in fuel prices continues even as global oil markets continue to experience sharp volatility amid geopolitical tensions due to Middle East conflict.

To align fuel prices with changes in global crude oil prices and currency exchange rates, Oil marketing companies (OMCs) update fuel prices daily at 6 AM. Check updated petrol and diesel prices in your city here:

The differences in fuel prices across cities arises due to differences in state-level taxes of West Asia conflict on rupee, foreign exchange

The impact of West Asia conflict is translating into crude oil prices which have risen nearly 37% since the start of the Iran war. The Reserve Bank of India (RBI) intervened to support the rupee amid downward push. It is selling US dollars to cushion the rupee which resulted in significant drop in foreign exchange reserves, the most since November 2024, Bloomberg reported.

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Disruptions to oil shipments through the Strait of Hormuz has raised supply concerns which serves as one of the world's most critical energy corridors through which nearly 20% of global oil supply passes. With oil prices emerging as the dominant factor shaping sentiment across markets, the forex stockpile fell by $11.68 billion in the week of March 6, according to data released by RBI on Friday.

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Indian authorities have signalled that retail petrol and diesel prices are expected to remain stable for now despite fluctuations in international oil markets. To avoid sudden price shocks for consumers and ward off inflation concerns, oil marketing companies are absorbing part of the volatility. India imports nearly 85% of its crude oil requirement. Higher crude prices directly increase the country's import bill.

India's major state-owned oil marketing companies are incurring massive losses while selling fuel at existing prices, a recent report released by brokerage firm Systematix said. To bridge the gap between global crude prices and domestic retail fuel rates, companies like Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) are currently losing around ₹20 per litre on petrol and about ₹45 per litre on diesel. This reportedly translates to around ₹2,000 crore loss every day.

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Nearly ₹1,650 crore of the total daily losses is attributed to diesel sales and ₹350 crore loss arises from petrol sales. This indicates that diesel sales are responsible for significantly higher losses compared to petrol at current pricing levels.

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