Fuel Prices Hiked 2nd Time In Week; Petrol Costly By 87 Paise, Diesel Rises By 91 Paise; City-Wise Prices

Fuel prices in India have been hiked once again in less than five days. On May 18, Indian oil marketing companies hiked the petrol price by 87 paise, while the diesel price increased by 91 paise per litre. Not that the OMCs also hiked prices of premium fuels. The reason behind the hike is the elevated global crude oil prices and energy crisis.

Petrol Prices Hike 2026: City-Wise List

In Delhi, petrol price is now almost near Rs 99 per litre, while in Kolkata, the rate is just a couple of paisa away from Rs 110 mark. In Mumbai, petrol price is at Rs 106.68 per litre and in Chennai, the new petrol rate is at Rs 104.49 per litre.

City	Previous Price	New Price	Increase
Delhi	₹97.77	₹98.64	+₹0.87
Kolkata	₹108.74	₹109.70	+₹0.96
Mumbai	₹106.68	₹107.59	+₹0.91
Chennai	₹103.67	₹104.49	+₹0.82

However, petrol price was hiked the most in cities like Noida, Jaipur, Patna and Thiruvananthapuram.

Petrol even crossed Rs 111 per litre mark in Hyderabad and Thiruvananthapuram, making it costliest in these cities.

Petrol Prices In Other Cities:

City	Petrol Price	Change
Gurgaon	₹99.29	+0.82
Noida	₹98.91	+1.15
Bangalore	₹107.12	+0.95
Bhubaneswar	₹105.09	+0.52
Chandigarh	₹98.10	+0.83
Hyderabad	₹111.88	+0.99
Jaipur	₹109.32	+1.71
Lucknow	₹98.40	+0.68
Patna	₹110.02	+1.10
Thiruvananthapuram	₹111.71	+1.10

Diesel Prices Hike 2026: City-Wise List

Diesel prices also witnessed significant increases. In the financial hub, Mumbai, diesel price is hiked by 94 paise to Rs 94.08 per litre. A similar hike was seen in Kolkata by 94 paise to Rs 96.07 per litre. In Delhi, diesel is priced at Rs 91.58 per litre, up by 91 paise. Furthermore, in Chennai, diesel price rose by 86 paise to Rs 96.11 per litre, making it expensive compared to the other three mentioned cities.

City	Previous Price	New Price	Increase
Delhi	₹90.67	₹91.58	+₹0.91
Kolkata	₹95.13	₹96.07	+₹0.94
Mumbai	₹93.14	₹94.08	+₹0.94
Chennai	₹95.25	₹96.11	+₹0.86

But did you know, diesel is most expensive in Thiruvananthapuram, crossing Rs 100 mark per litre on May 19. Cities like Hyderabad is also nearing the Rs 100 mark.

Diesel Prices In Other Cities:

City	Diesel Price	Change
Gurgaon	₹91.80	+0.86
Noida	₹92.21	+1.22
Bangalore	₹95.04	+0.94
Bhubaneswar	₹96.68	+0.57
Chandigarh	₹86.09	+0.84
Hyderabad	₹99.95	+0.99
Jaipur	₹94.50	+1.60
Lucknow	₹91.73	+0.72
Patna	₹96.05	+1.08
Thiruvananthapuram	₹100.60	+1.22

Last week, on May 15, petrol and diesel prices were up by up to Rs 3 per litre in the majority of cities.

According to experts, the latest fuel price hike reflects the pressure of elevated global crude oil prices and rising import costs on the government's fiscal position.

Explaining the impact of fuel price hike, Jateen Trivedi, VP Research Analyst—Commodity and Currency, LKP Securities said, while the increase may temporarily add to inflation concerns and impact transportation and consumption costs, it also indicates the government's focus on managing fuel subsidies and protecting forex reserves amid ongoing global uncertainty.

In the longer term, the analysts said, such moves may further accelerate the push towards EV adoption and reduced dependence on imported fuel.

Petrol and diesel prices are hiked for the second time in a week this year. This comes after retail fuel prices were kept unchanged since April 2022, with exceptions of a one-time cut of Rs 2 per litre during 2024 Lok Sabha elections.

Oil marketing companies like Indian Oil, HPCL and BPCL had removed the pattern of daily fuel revision in 2022, an attempt to protect consumers from the surge in global crude oil prices during the Russia-Ukraine.

However, since the US-Israel-Iran war in late February 2026, energy crisis has escalated as Strait of Hormuz remains close for the third month straight due to dual blockade by US and Iran. Currently, US WTI Crude oil is near $103 per barrel and Brent Crude is above $110 per barrel.

Oil prices had been rallying for over a week as US-Iran peace talks stalled and shipping through the vital Strait of Hormuz remained effectively closed. Tehran's nuclear program and the dual blockade of the key waterway continue to be major obstacles preventing a breakthrough in negotiations. Meanwhile, the US issued a fresh waiver permitting the sale of Russian crude oil and petroleum products already loaded onto tankers, as per Trading Economics.

Crude oil is up by 18% in past 1 month, while due to the West Asia crisis, its year-on-year performance is higher by 66-69%.

Recently, Morgan Stanley warned that the blockade at Hormuz could push Brent crude to $130-150 per barrel. This could be fatal for Indian OMCs who are already incurring hefty losses for the delayed hike in fuel prices.

Last week, the Indian Oil Ministry revealed that OMCs are buying crude, gas and LPG at higher cost, but in order to protect consumers, they are selling final products at lower cost leading to massive mounting losses of upto Rs 1,000 crore per day. However, the OMCs have ensured uninterrupted energy imports and supply.

According to the ministry, the estimated OMC under-recoveries during this quarter itself are expected to surge to Rs 2,00,000 crores and losses are expected to be around Rs 1,00,000 crores

Hence, the shocks of the crude oil prices is passed on to consumers.