The price variation persists against the backdrop of volatile crude markets, with Brent crude reaching roughly $116.10 per barrel on October 30, 2026, due to US-Iran military tensions. Fuel affordability varies dramatically by jurisdiction, spanning from highly subsidised nations like Libya to higher-cost consumer economies. Within India, domestic retail costs also diverge regionally, as local charges create notable pricing gaps between areas like Port Blair and Chittoor.
Key points
National taxation policies, subsidies, and distribution costs play a greater role in reta…: National taxation policies, subsidies, and distribution costs play a greater role in retail fuel pricing than crude production volume alone.
Indian fuel prices remain below costs recorded in several major economies including China…: Indian fuel prices remain below costs recorded in several major economies including China, Canada, and the United States.
Significant regional variations exist across Indian cities, resulting in local price gaps…: Significant regional variations exist across Indian cities, resulting in local price gaps between Port Blair and Chittoor.
Sources checked by our analysis pipeline: 1
The difference in prices becomes even more noticeable when diesel prices are compared. While the average global price of petrol stands at around Rs 150 per litre, diesel costs approximately Rs 159 per litre worldwide. In comparison, India's average petrol price is Rs 108.65 per litre, while diesel is available at an average of Rs 98.10 per litre. This means Indian consumers pay around Rs 41 less per litre for petrol and Rs 61 less for diesel than the respective global averages.
The figures come at a time when crude oil prices are witnessing renewed volatility. In global crude oil marke, Brent crude oil is trading at around $116.10 per barrel on Friday, October 30, 2026, amid concerns over a possible fresh military escalation between the US and Iran. Any prolonged disruption in the global oil market could have implications for countries that depend heavily on imported crude, including India.
Petrol and diesel prices in India lower than global average
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