Petrol and diesel prices in India have increased by nearly ₹3 per litre, pushing petrol above ₹100 in many cities. This surge is driven by rising global crude oil prices and geopolitical tensions. The hike has increased pressure on household budgets and transportation costs, prompting transport unions to demand fare revisions.
Fuel Prices Remain Elevated Across India
Petrol and diesel prices continued to stay high across India on May 16 following a sharp increase of nearly ₹3 per litre announced by oil marketing companies. The latest hike comes amid rising global crude oil prices and supply concerns triggered by geopolitical tensions in West Asia and disruptions around the Strait of Hormuz.
The revision has pushed petrol prices above the ₹100 mark in several major cities, increasing pressure on household budgets and transportation costs. Diesel prices have also surged sharply, sparking concerns among transport operators and businesses dependent on fuel-intensive operations.
Why Petrol and Diesel Prices Have Increased
According to reports, state-run oil companies were facing mounting losses because of rising international crude oil prices and increased operational costs. The Centre recently approved the price revision after weeks of stability in domestic fuel rates.
Industry experts believe the ongoing Middle East conflict and uncertainty around crude oil shipments through the Strait of Hormuz have significantly impacted global energy markets.
Latest Petrol Prices in Major Cities
City Petrol Price (₹/litre) Increase
Delhi ₹97.77- ₹3.00
Mumbai ₹106.68 - ₹3.14
Kolkata ₹108.70 - ₹3.29
Chennai ₹103.67 - ₹2.83
Hyderabad ₹110.89 - ₹3.39
Bengaluru ₹106.21 - ₹3.11
Latest Diesel Prices in Major Cities
City Diesel Price - (₹/litre) Increase
Delhi ₹90.67 - ₹3.00
Mumbai ₹93.14 - ₹3.11
Kolkata ₹95.13 - ₹3.11
Chennai ₹95.25 - ₹2.86
Hyderabad ₹98.96 - ₹3.39
Bengaluru ₹94.10 - ₹3.11
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Transport Sector Feels The Heat
The fuel price increase has already triggered demands for fare revisions in several cities. In Kolkata, private bus and auto operators have sought higher fares after diesel prices crossed the ₹95 per litre mark. Transport unions argue that existing fares are no longer sustainable under rising operational costs.
Meanwhile, Indian Oil Corporation officials said refineries are operating at more than 100 percent capacity to ensure uninterrupted fuel supply across the country. The company described the latest revision as a “very small rise” despite growing public concern over inflationary pressure.
What Determines Fuel Prices In India?
Fuel prices in India are influenced by multiple domestic and international factors.
Key Factors Affecting Petrol, Diesel Rates
Factor | Impact |
| Global crude oil prices | Directly affects base fuel cost |
| Rupee-Dollar exchange rate | Impacts import expenses |
| State taxes and VAT | Causes city-wise price variation |
| Transportation costs | Adds to retail fuel pricing |
| Global geopolitical tensions | Creates supply disruptions |
Also Read: Petrol-Diesel Price Today: Check Latest Fuel Rates Across Major Indian Cities
