Petrol and Diesel Prices Hiked Again, Fuel Rates Increased for Second Time in a Week
Fresh fuel price hike adds to public burden as petrol and diesel rates rise again within a week.
New Delhi: Fuel prices across India have been increased once again, marking the second hike within a week as global crude oil prices continue to rise due to the ongoing conflict involving Iran.
Oil marketing companies on Tuesday raised petrol and diesel prices by nearly 90 paise per litre. The latest increase comes just three days after fuel prices were hiked by Rs 3 per litre on May 15.
Following Tuesday’s revision, petrol in Delhi now costs Rs 98.64 per litre after an increase of 87 paise, while diesel has gone up by 91 paise to Rs 91.58 per litre.
Other major cities also witnessed fresh hikes. In Mumbai, petrol is now priced at Rs 107.59 per litre and diesel at Rs 94.08 per litre. Kolkata recorded the highest rise in petrol prices, with rates reaching Rs 109.70 per litre, while diesel climbed to Rs 96.07 per litre. In Chennai, petrol now costs Rs 104.49 per litre and diesel Rs 96.11 per litre.
According to industry experts, the continuing tensions in West Asia have severely affected global crude oil supply chains. The earlier fuel price hike reportedly did not fully compensate oil companies for rising import costs, as fuel prices had remained unchanged for nearly ten weeks despite increasing international rates.
The rise in fuel prices is expected to impact transportation costs and daily household expenses. Traders, transport operators, commuters and people relying on personal vehicles are likely to feel the burden directly. Higher transport costs may also lead to an increase in prices of essential goods.
Analysts warn that if crude oil prices continue to climb in the international market, fuel prices in India could rise further in the coming days, adding to inflation concerns.
The Petroleum Planning and Analysis Cell under the Petroleum Ministry stated in its latest report that the average price of the Indian crude oil basket has surged from 69.01 US dollars per barrel in February 2026 to 110.73 US dollars per barrel as of May 15. This reflects an increase of more than 60 percent within a few months.
India imports more than 85 percent of its crude oil requirements, making domestic fuel prices highly sensitive to international developments. Disruptions in cargo movement through the Strait of Hormuz due to tensions between Iran and the United States have further added to import costs.
The weakening value of the Indian rupee against the US dollar has also contributed to the increase, as oil imports become more expensive for the country.