Petrol, Diesel Prices Stable on March 23 Amid Gulf Crisis; Premium Fuels Hike

• Petrol and diesel prices in major Indian cities remained unchanged on March 23, 2026, despite global oil market volatility.
• Global crude prices are highly volatile due to Middle East tensions, raising concerns about oil supply disruptions via the Strait of Hormuz.
• The Indian government aims to keep petrol and diesel prices stable, with OMCs absorbing volatility to prevent sudden price shocks.
• Premium petrol variants like XP95 and Power petrol saw a price hike of Rs 2 to Rs 2.3 per litre in select cities.
• Future hikes for regular fuel depend on sustained high international oil prices and the weakening rupee, pressuring OMCs.