Petrol and diesel prices were increased once again on Saturday, marking the third hike in fuel rates this month amid rising pressure from global crude oil markets. Petrol prices have gone up by 87 paise per litre, while diesel has become costlier by 91 paise per litre. The latest revision comes just days after fuel prices were increased by 90 paise per litre earlier this week. Before that, oil marketing companies had raised rates by nearly Rs 3 per litre, ending a long period of relative stability in domestic fuel prices.
Petrol and diesel prices had already been raised by nearly 90 paise per litre on May 19. Just three days earlier, on May 16, the Centre had announced a sharp hike of Rs 3 per litre in fuel prices across the country.
Check rates in your city
RSP (Retail Selling Price) of four Metro cities for 19.05.26 are as follows:
MS (petrol) prices
Delhi: 99.51 (+0.87)
Kolkata: 110.64 (+0.94)
Mumbai: 108.49 (+0.90)
Chennai: 105.31 (+0.82)
High Speed Diesel prices
Delhi: 92.49 (+0.91)
Kolkata: 97.02 (+0.95)
Mumbai: 95.02 (+0.94)
Chennai: 96.98 (+0.87)
Fuel prices hiked amid Iran war
The fresh hike comes at a time when international crude oil prices remain volatile due to the ongoing tensions in the Middle East and uncertainty surrounding US-Iran peace negotiations. Brent crude futures climbed to over USD 104 per barrel on Friday, while US West Texas Intermediate crude traded close to USD 97 per barrel. Although both benchmarks were headed for weekly losses, prices have continued to witness sharp swings as investors react to changing geopolitical developments.
For months, state-run oil marketing companies had largely kept petrol and diesel prices unchanged despite rising international crude rates. According to the Centre, public sector OMCs were reportedly bearing losses of nearly Rs 1,000 crore every month during this period.
With crude prices now nearing USD 111 per barrel at one stage and global supply concerns persisting, oil companies have begun passing on part of the burden to consumers through successive price revisions.
On May 12, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said India ensured stable fuel prices and uninterrupted energy supplies despite global disruptions and rising crude oil prices, while significantly boosting domestic LPG production to meet growing demand.
India's resilience in handling global energy shocks through strong policy:Hardeep Puri Addressing the CII Annual Business Summit 2026, Puri highlighted India's resilience in handling global energy shocks through strong policy coordination and effective supply management.
"At a time of global supply shocks and rising crude prices, India ensured seamless availability of petrol, diesel, and LPG across the country, with no reports of shortages. Despite sharp global volatility, fuel prices have largely remained unchanged since 2022, reflecting strong policy coordination and effective supply management," the minister said.