Quick answer: Not yet. As of 9 October 2026, petrol and diesel prices are unchanged in all major cities (petrol ₹102.12 and diesel ₹95.20 a litre in Delhi), even though Brent crude is above $100 a barrel. Oil marketing companies are reported to be selling at a loss, so a hike is possible if crude stays this high. The government could also cut excise duty to soften any increase. Nothing official has been announced.
Why is crude oil above $100?
Crude jumped this month because of supply worries:
- Attacks in Saudi Arabia, including Houthi attacks on Saudi targets, raised fears about Gulf supplies.
- Hurricane Isaias threatened oil production in the US Gulf of Mexico.
- Middle East tensions more broadly kept traders nervous.
In response, the International Energy Agency agreed to speed up a release of oil from emergency stocks, and G7 countries committed to put about 100 million barrels of crude and diesel on the market. That helped prices dip slightly, but Brent still traded around $103.50 on 9 October, according to Mint.
India imports close to 85% of its crude, so this matters for us more than for most countries.
Petrol and diesel prices today in major cities
| City | Petrol (₹/litre) | Diesel (₹/litre) |
|---|---|---|
| New Delhi | 102.12 | 95.20 |
| Mumbai | 111.21 | 97.83 |
| Kolkata | 113.51 | 99.82 |
| Chennai | 107.77 | 99.55 |
| Bengaluru | 111.68 | 99.56 |
| Hyderabad | 116.15 | 104.23 |
| Jaipur | 112.66 | 98.25 |
| Lucknow | 101.86 | 95.36 |
| Patna | 113.37 | 99.36 |
| Thiruvananthapuram | 115.49 | 104.40 |
| Chandigarh | 101.54 | 89.47 |
| Gurugram | 102.97 | 95.64 |
Prices as on 9 October 2026, as reported by Mint. Rates differ between cities mainly because of state VAT. Check your local fuel station or the oil company's app for today's price.
Why haven't prices gone up yet?
In theory, oil companies (IOC, BPCL, HPCL) revise prices daily. In practice, retail prices in India can stay frozen for months. Three reasons:
- Oil companies absorb short spikes. They earned healthy margins when crude was cheaper and can carry losses for a while.
- Government influence. Fuel prices are politically sensitive and affect inflation, so hikes are often delayed.
- Waiting to see if it lasts. If crude falls back below $90, a hike may not be needed.
Rating agency ICRA has flagged negative marketing margins on petrol and diesel at current crude prices. In plain words, companies are losing money on each litre they sell. The longer that continues, the higher the chance of a hike.
What decides whether you pay more?
| Factor | If it goes this way | Effect on pump price |
|---|---|---|
| Crude price | Stays above $100 for weeks | Pressure to hike |
| Rupee vs dollar | Rupee weakens | Crude costs more in rupees, more pressure |
| Central excise duty | Government cuts it | Hike can be avoided or reduced |
| State VAT | States cut VAT | Lower prices in those states |
| G7/IEA stock release | Pushes crude down | Less pressure |
How much could it rise? Nobody official has said. As a rough guide, every $1 rise in crude per barrel adds about 50–60 paise per litre to the cost of petrol and diesel, though actual pump changes depend on taxes and company decisions. Treat any viral "₹10 hike tomorrow" message as a rumour unless an oil company or the petroleum ministry confirms it.
How a fuel price hike would hit your budget
Example for a commuter in Delhi riding a bike 30 km a day at 45 km per litre:
- Fuel used in a month: about 20 litres
- Today's cost: 20 × ₹102.12 = ₹2,042
- If petrol rises by ₹3: 20 × ₹105.12 = ₹2,102, or ₹60 more a month
For a car doing 1,000 km a month at 15 km per litre (about 67 litres), the same ₹3 hike adds roughly ₹200 a month. Diesel hikes also push up transport costs, which slowly reach vegetables, groceries and online deliveries.
7 practical ways to cut your fuel bill
- Keep tyres at the right pressure. Under-inflated tyres can waste several percent of fuel.
- Drive smoothly. Sudden acceleration and braking burn extra fuel.
- Switch off the engine at long signals (more than 30–40 seconds).
- Service on time. A clogged air filter and old engine oil hurt mileage.
- Use fuel-station loyalty and credit-card offers, but pay the card bill in full (credit card interest explained).
- Plan errands together instead of making many short trips.
- Consider the FASTag annual pass if you use highways often (is it worth it?).
Frequently asked questions
Will petrol price increase in India this month?
There is no official announcement. Prices were unchanged on 9 October 2026. A hike becomes more likely if crude stays above $100 for several weeks.
Why is petrol cheaper in Delhi than in Hyderabad?
Mainly because of different state VAT rates and local charges.
Does the government control petrol prices?
Prices are formally deregulated and set by oil companies, but the government influences them through excise duty and as the main owner of the state-run companies.
Will the G7 oil release lower prices in India?
It may cool global crude prices, which reduces pressure on Indian oil companies. It does not directly change pump prices in India.
Where can I check today's petrol price?
Use the official apps or websites of IndianOil, BPCL or HPCL, or SMS services offered by them, for your exact fuel station.
The bottom line
For now your pump price is the same, but the gap between global crude and Indian retail prices is wide. Watch three things over the next few weeks: whether crude stays above $100, whether the rupee weakens further, and whether the government cuts excise duty. We will update this article if prices change.
Related reading: Emergency fund: how much do you need · Best budgeting apps for beginners
Sources to verify
- Mint: Petrol, diesel prices today, October 9 (city-wise rates, Brent and Indian basket)
- Reuters: Oil prices settle as IEA agrees to accelerate oil stock release (7 October 2026)
- IndianOil, BPCL and HPCL official price pages
Prices and crude figures are as reported on 9 October 2026 and change daily. This article is for general information only.
