Petrol, diesel rates on 28 April — Check fuel prices today in Delhi, Mumbai, Chennai, Kolkata, Bengaluru & other cities

Petrol and diesel prices in India held firm on 28 April 2026, with oil marketing companies absorbing a portion of international market fluctuations to shield consumers from sudden price increases. The Indian government has indicated that domestic fuel prices are expected to remain stable for the near term despite continued turbulence in global crude markets.

Fuel prices in India are revised daily at 6am by oil marketing companies, based on movements in international crude oil prices and prevailing foreign exchange rates, a system designed to ensure transparency and alignment with real-time market conditions.

Check the table below:

Global Oil Prices Surge on Supply Disruption Fears

On global markets, crude oil prices climbed sharply amid deepening concerns over supply disruptions. Brent futures rose by $4.18, or 4.8%, settling at $91.98 a barrel, while US West Texas Intermediate ended the session up $3.80, or 4.6%, at $87.25 a barrel. The gains came as analysts assessed a proposal by the International Energy Agency for a record release of oil reserves as insufficient to meaningfully ease supply concerns.

Equity markets reflected the broader unease. The MSCI All-World index fell approximately 0.2%, European shares declined with the STOXX 600 down 0.6%, while MSCI's broadest index of Asia-Pacific shares outside Japan closed 1% higher.

Strait of Hormuz Crisis Threatens 20% of Global Fuel Supply

At the centre of the market anxiety is the Strait of Hormuz, a critical chokepoint through which approximately 20% of the world's fuel supply passes. Threats to vessels operating in the waterway have effectively deterred shipping traffic since the outbreak of the US-Iran conflict, with three more vessels struck by projectiles in recent days. Traffic through the strait is now described as near-zero.

Iran's military command has warned that the world should be prepared for oil to reach $200 a barrel, a statement that has further rattled energy markets and prompted urgent discussions among world leaders over how to prevent a full-scale price shock.

The US and Iran remain no closer to a resolution after President Donald Trump called off his envoys' planned peace negotiations over the weekend.

Iranian Oil Tankers Cluster Near US Blockade Line

Satellite imagery and analyses from United Against Nuclear Iran and maritime intelligence firm Windward reveal that between six and eight supertankers laden with Iranian crude were idling in waters near Chabahar, a port in Iran situated in the Gulf of Oman just outside the Persian Gulf and shy of the US blockade line, as of late last week. Additional smaller tankers were also observed in the vicinity.

The buildup suggests Iran is continuing to load oil onto vessels even as the US blockade appears to be functioning as an effective barrier preventing that crude from reaching buyers. The US has escalated pressure on Tehran by boarding tankers in the Indian Ocean and sanctioning a major Chinese refiner identified as a buyer of Iranian oil.

According to an estimate from analytics firm Vortexa, cited by Bloomberg, approximately 155 million barrels of Iranian crude are currently either in transit or held in floating storage across the world. With the Strait of Hormuz effectively closed to traffic, analysts warn that Tehran may soon be compelled to begin shutting in production as onshore and floating storage capacity runs out.