On October 16, 2026, petrol and diesel prices across major Indian cities remained unchanged despite a slight drop in international crude oil prices. Domestic oil marketing companies kept rates stable, offering relief to commuters, though retail prices still vary by city due to local taxes.
Petrol and diesel prices remained unchanged across major Indian cities on October 16, 2026, even as international crude oil prices eased from recent highs. Motorists can continue to check the latest city-wise fuel rates before planning their daily commute, with retail prices varying across locations due to differences in state taxes and local charges.
Brent crude was trading at around $105.80 per barrel, while US West Texas Intermediate (WTI) crude fell to $97.71 per barrel in early trade. The decline followed a rise in the previous session, when concerns about potential supply disruptions linked to renewed Houthi attacks on Saudi targets and risks to shipping through the Strait of Hormuz influenced international oil markets.
State-run oil marketing companies, including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, have kept regular petrol and diesel prices unchanged. However, movements in global crude oil prices remain important for India, which depends heavily on imported crude to meet its energy requirements.
Petrol and Diesel Rates – October 16, 2026
Sustained increases in international oil prices could raise the country’s crude import bill and put additional pressure on oil marketing companies’ margins if domestic retail rates remain stable. According to estimates cited by Business Today, state-run oil marketing companies faced marketing margins of minus Rs 8 per litre on petrol and minus Rs 9 per litre on diesel in September. Their combined daily losses were estimated at around Rs 530 crore.
Currency movements are another factor to watch. A weaker rupee against the US dollar increases the cost of importing crude oil and can add to the pressure on domestic fuel pricing.
For commuters, unchanged rates offer some relief from immediate fuel-price increases. However, prices remain different from one city to another because of local taxation and other pricing components. Consumers should check the latest rates applicable to their location before refuelling.