NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

Fuel Prices Hike Amid Global Market Volatility

Amid repeated assurances by the Centre on the availability of crude oil across the country, several cities witnessed a hike in petrol and diesel prices on Tuesday, May 19, 2026. The increase ranged from a few paise to over Re 1 per litre in some places. This recent price hike follows last week's uniform price increase by oil marketing companies across India. On May 15, both petrol and diesel rates were hiked by Rs 3 across India. A day earlier, during the regular inter-ministerial briefing, the government had said it could not commit to whether India would witness further fuel price hikes in the future.

Global Market Reactions

In a related development, oil prices fell after US President Donald Trump said he had called off a planned strike on Iran that was reportedly scheduled for Tuesday, following appeals from key Persian Gulf allies. This news led to a decline in crude oil prices. Brent crude slipped below $110 a barrel after rising 2.6% on Monday, while West Texas Intermediate crude for July delivery traded below $103 a barrel.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Petrol and Diesel Rates Across India

Petrol and diesel rates have increased across major cities in India. The following table compares the rates for May 18 and May 19, 2026.

CityPetrol Rate (May 18)Petrol Rate (May 19)Diesel Rate (May 18)Diesel Rate (May 19)
MumbaiRs x.xRs x.xRs x.xRs x.x
Other citiesRs x.xRs x.xRs x.xRs x.x

Haryana Government's New Rules

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Meanwhile, in a major decision with far-reaching implications for everyday mobility, the Haryana government has approved new rules barring petrol and diesel vehicles from being inducted into the fleets of cab aggregators in NCR areas. The Haryana Cabinet on Monday approved rules for the grant of aggregator licences, under which all vehicles added to the fleets of aggregators, delivery service providers, and e-commerce entities in NCR regions must mandatorily run on CNG, electric power, battery-operated systems, or any other cleaner fuel.

Investor Takeaway

Investors should be cautious of potential fuel price hikes in India due to ongoing market trends.

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