Petrol, Diesel Prices Raised Again; Fuel Rates Up Over ₹2.50 Per Litre in Fresh Hike

Petrol and diesel prices in India were raised again on Monday, marking the fourth increase in less than 10 days, as state-owned oil marketing companies continued passing on the impact of elevated global crude oil prices to consumers. The latest revision saw petrol prices rise by ₹2.61 per litre and diesel prices increase by ₹2.71 per litre across major cities.

With this latest increase, cumulative fuel price hikes since 15 May 2026 have climbed to roughly ₹7.5 per litre for both petrol and diesel. Fuel prices had first been raised by ₹3 per litre on 15 May, followed by a ₹0.90 per litre increase on 19 May, and another ₹0.87–₹0.91 per litre hike on 23 May before Monday’s sharp jump.

Fuel Rates Climb Across Major Metro Cities

Following the revision, petrol in New Delhi now costs ₹102.12 per litre, crossing the ₹100 mark for the first time in this cycle of increases. Diesel in Delhi has risen to ₹95.20 per litre.

Fuel prices in other metros have also moved higher:

• Mumbai: Petrol around ₹111 per litre, diesel close to ₹98 per litre

• Kolkata: Petrol above ₹113 per litre, diesel near ₹100 per litre

• Chennai: Petrol above ₹108 per litre, diesel above ₹99 per litre

Prices vary across states depending on local VAT and dealer commissions.

The latest increase comes amid continuing pressure from the global oil market. Crude prices have remained elevated due to supply disruptions linked to the West Asia conflict, especially concerns around shipping through the Strait of Hormuz, a critical route for global oil trade. Brent crude had surged above $120 per barrel earlier before easing slightly, but it remains significantly above average levels.

Global Crude Pressure Keeps Oil Companies On Edge

India’s three state-run fuel retailers, Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited, account for nearly 90% of the country’s fuel retail market, operating over 103,000 petrol pumps nationwide.

Despite multiple price hikes this month, oil marketing companies are still reported to be under pressure due to high import costs. Rising wholesale fuel prices have also led some bulk buyers to shift purchases to retail pumps, adding stress to supply in certain regions. Reuters reported that Indian Oil’s diesel retail sales rose 18% year-on-year between 1 May and 22 May, while petrol sales increased 14% during the same period.

The repeated fuel price increases are expected to push up transportation costs, raise pressure on household budgets, and add to inflation concerns across sectors ranging from logistics to food distribution. Economists are also watching whether further increases may follow if crude prices remain elevated over the coming weeks.

Also Read - Central Bank Plans New Business Verticals To Lift Profitability

Sources:

Reuters

The Indian Express

Times of India