Fuel Prices Hike: Petrol, Diesel Rates Increased by Rs 3 Per Litre Across India
Fuel Prices Hiked Across India
The Centre has announced an immediate increase in petrol and diesel prices, marking the first revision in retail fuel rates in nearly four years. The hike, which takes effect from Friday, May 15, 2026, sees a Rs 3 per litre increase in petrol and diesel prices.
The move comes amid rising global crude oil prices and mounting under-recoveries at state-run oil marketing companies. The ongoing West Asia crisis has disrupted global energy supplies, leading to elevated global crude oil prices and surging input costs. Industry experts had warned that a fuel price correction was becoming unavoidable.
Immediate Impact Expected The revised retail prices are now in force across India, with final pump rates varying from state to state depending on local VAT and dealer commissions. The decision is expected to have an immediate impact on transportation costs, inflation expectations, and household budgets.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
| City | Petrol Price (Pre-Hike) | Petrol Price (Post-Hike) | Diesel Price (Pre-Hike) | Diesel Price (Post-Hike) |
|---|---|---|---|---|
| Delhi | Rs 92.18 | Rs 95.18 | Rs 89.66 | Rs 92.66 |
| Mumbai | Rs 99.41 | Rs 102.41 | Rs 92.43 | Rs 95.43 |
| Kolkata | Rs 98.45 | Rs 101.45 | Rs 95.41 | Rs 98.41 |
Note: Prices are subject to change based on local VAT and dealer commissions.
Investor Takeaway
Investors should be prepared for potential short-term market volatility due to the fuel price hike.
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