We here present the results from a detailed analysis of nebular abundances of commonly observed ions in the collisional ring galaxy Cartwheel using the Very Large Telescope (VLT) Multi-Unit Spectroscopic Explorer (MUSE) dataset. The analysis includes 221 H ii regions in the star-forming ring, in addition to 40 relatively fainter Hα-emitting regions in the spokes, disk and the inner ring. The ionic abundances of He, N, O and Fe are obtained using the direct method (DM) for 9, 20, 20, and 17 ring H ii regions, respectively, where the S ++ temperature-sensitive line is detected. For the rest of the regions, including all the nebulae between the inner and the outer ring, we obtained O abundances using the strong-line method (SLM). The ring regions have a median 12 + log O H =8.19±0.15, log N O = −1.57±0.09 and log Fe O = −2.24±0.09 using the DM. Within the range of O abundances seen in the Cartwheel, the N/O and Fe/O values decrease proportionately with increasing O, suggesting local enrichment of O without corresponding enrichment of primary N and Fe. The O abundances of the disk H ii regions obtained using the SLM show a well-defined radial gradient. The mean O abundance of the ring H ii regions is lower by ∼0.1 dex as compared to the extrapolation of the radial gradient. The observed trends suggest the preservation of the pre-collisional abundance gradient, displacement of most of the processed elements to the ring, as predicted by the recent simulation by Renaud et al. (2018), and post-collisional infall of metal-poor gas in the ring.