New Delhi: For the first time in over four years, India has increased petrol and diesel prices by Rs 3 per litre. The hike comes as global crude oil prices remain high due to ongoing tensions in West Asia, particularly around the Strait of Hormuz.
The price revision has pushed petrol above Rs 100 per litre in several cities. Current fuel rates in major metros are:
City Petrol (Rs/litre) Diesel (Rs/litre)
Delhi 97.77 90.67
Mumbai 106.68 93.14
Kolkata 108.74 95.13
Chennai 103.67 95.25
The hike comes as state-owned oil companies—Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL)—were collectively losing around Rs 1,000 crore per day due to rising import costs. Despite a slight easing of crude oil prices to $104-110 per barrel, the rates are still much higher than before, adding to the pressure on fuel retailers.
IOC officials assured that all refineries are running at full capacity and there will be no shortage of fuel at retail outlets. Minister Hardeep Singh Puri highlighted that India has expanded crude sourcing from 27 countries in 2006-07 to 41 today, maintains strategic reserves for 74 days, and ensures uninterrupted fuel and LPG supply to households nationwide.
Fuel prices vary across states due to differences in taxes, transportation, and dealer charges. Higher fuel costs could also increase transportation and logistics expenses, contributing to rising inflation, which hit 8.3% in April 2026.
