New Delhi: Petrol and diesel prices were increased again across the country on Tuesday, marking the second fuel price hike within five days amid rising global crude oil prices and escalating tensions in West Asia.
With the latest revision, petrol and diesel prices have now increased by nearly Rs 3.90 per litre since May 15, when fuel prices were raised by Rs 3 per litre after a gap of four years.
Effective Tuesday, petrol price in Delhi rose by 87 paise to Rs 98.64 per litre, while diesel increased by 91 paise to Rs 91.58 per litre.
The premium diesel variant XG sold by Indian Oil Corporation now costs Rs 96.90 per litre after the latest increase. Similarly, high octane petrol XP95 was revised upward by 87 paise to Rs 105.76 per litre.
Among major metros, Kolkata witnessed the steepest hike. Petrol price there increased by 96 paise to Rs 109.70 per litre, while diesel rose by 94 paise to Rs 96.07 per litre.
In Mumbai, petrol price increased by 81 paise to Rs 107.49 per litre and diesel rose by 88 paise to Rs 94.02 per litre.
Chennai also recorded a sharp rise, with petrol price increasing by 82 paise to Rs 104.49 per litre and diesel going up by 86 paise to Rs 96.11 per litre.
Rising Crude Prices Behind Fuel Hike
The latest increase comes as Brent crude prices continue to rise due to geopolitical tensions in West Asia.
According to government data, India’s crude oil basket averaged 106.69 US dollars per barrel till May 15. On Tuesday morning, Brent crude futures for July traded at 109.34 dollars per barrel.
The Union Government informed on Monday that losses incurred by oil marketing companies on LPG, petrol and diesel together have reduced by Rs 250 crore to Rs 750 crore after the May 15 fuel price hike.
However, the Centre clarified that no bailout package for oil marketing companies is currently under consideration.
Prime Minister Narendra Modi recently appealed for fuel conservation, reduced travel and work from home practices to ease pressure on energy demand and foreign exchange reserves.
Several State governments have already directed departments to reduce travel, avoid physical meetings and operate with lower office staffing.
Private fuel retailers had already revised prices earlier. Nayara Energy increased petrol prices by Rs 5 per litre and diesel by Rs 3 in March, while Shell raised petrol prices by Rs 7.41 and diesel by Rs 25 per litre from April 1.
In Bengaluru, Shell currently sells petrol at Rs 119.85 per litre and diesel at Rs 123.52 per litre.
Domestic LPG cylinder prices were also increased by Rs 60 in March. Despite the hike, oil companies are reportedly losing Rs 674 on every 14.2 kilogram LPG cylinder sold.
Industry experts said the latest increase was calibrated to reduce financial pressure on oil companies without triggering a major inflation shock. However, they warned that fuel price increases would still impact inflation levels.
India’s retail inflation based on Consumer Price Index rose to 3.48 percent in April 2026 from 3.40 percent in March. Wholesale inflation surged to 8.3 percent, the highest in 42 months, driven mainly by rising fuel and energy prices.
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