Petrol in Delhi cost about Rs 71.5 per litre in 2014, crashed to around Rs 58 in 2016, spiked to an all-time high of Rs 105.41 in April 2022, and now trades near Rs 94–98. This timeline explains each move — crude oil swings, excise duty changes, and the 2017 shift to daily dynamic pricing.
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Brent crude collapsed from over $100/barrel in mid-2014 to below $30 by January 2016, and Delhi petrol fell from about Rs 71.5/L to roughly Rs 58/L. But the government raised central excise duty multiple times — about Rs 11.77/L in total — channelling most of the crude windfall to the exchequer rather than the pump. Diesel was decontrolled in October 2014, freeing it to move with market prices.
On June 16, 2017, India replaced opaque fortnightly revisions with daily dynamic pricing. OMCs (Indian Oil, BPCL, HPCL) now revise petrol and diesel prices every day at 6 AM using a 15-day rolling average of international crude benchmarks and the INR-USD rate. In practice, OMCs have occasionally frozen prices during politically sensitive periods — most notably for about 137 days before the 2022 UP elections. You can see today's revision anytime on the Fuel Price page.
The COVID demand collapse briefly pushed Brent below $20/barrel, yet Delhi petrol only fell to about Rs 69/L because excise was simultaneously raised by Rs 13/L, taking the duty to its all-time peak of Rs 32.90/L. Then the Russia-Ukraine war sent Brent above $130/barrel, and when the pre-election price freeze ended in March 2022, prices were hiked 10 times in 16 days. Delhi petrol hit Rs 105.41/L in April 2022 — the highest ever — with high-VAT states crossing Rs 115/L.
The government cut excise by Rs 5/L in November 2021 and by another Rs 8/L on May 21, 2022 — reducing pump prices by roughly Rs 9.5/L overnight with cascading VAT effects, at an estimated fiscal cost of Rs 1 lakh crore per year. With crude ranging $70–85/barrel through 2025–26, Delhi petrol has settled around Rs 94–98/L, while high-VAT states remain Rs 10–15/L above — a gap explained in why petrol prices differ between states. Whatever prices do next, the habits in our fuel saving tips can cut your own bill by 15–25%.
Rs 105.41 per litre in Delhi, recorded in April 2022 after the Russia-Ukraine war spiked crude prices. In high-VAT states like Rajasthan and Telangana, prices crossed Rs 115-118/L at that peak.
On June 16, 2017, India moved from fortnightly government-led revisions to daily dynamic pricing. OMCs now revise petrol and diesel prices every day at 6 AM based on a 15-day rolling average of crude prices and the exchange rate.
The government raised central excise by Rs 13/L on petrol and Rs 16/L on diesel in March-May 2020 to shore up revenues, absorbing most of the crude crash benefit. Consumers saw only a Rs 3-5/L reduction despite Brent falling around 75%.
From the peak of Rs 32.90/L set in May 2020, the government cut Rs 5/L in November 2021 and Rs 8/L in May 2022, bringing petrol excise to Rs 19.90/L, with a further Rs 2/L adjustment in August 2023.
OMCs froze prices for roughly 137 days from October 2021 to March 2022 ahead of state elections in UP, Punjab, Goa, Manipur and Uttarakhand - an unofficial but widely observed practice. When the freeze ended, prices were hiked 10 times in 16 days to catch up with crude.