Fuel Prices Rise Across Major Indian Cities Amid Global Crude Oil Surge

New Delhi, May 2026 Petrol and diesel prices witnessed a sharp increase across major Indian cities on Friday after state-run oil marketing companies announced a fresh hike of more than Rs 3 per litre. The increase comes against the backdrop of soaring global crude oil prices and mounting supply concerns triggered by the ongoing tensions in West Asia.

The latest revision marks the first significant rise in fuel prices since May 2022, a period during which retail rates had largely remained stable despite fluctuations in international oil markets. Officials said the increase became unavoidable due to rising crude procurement costs, higher refining expenses, and growing pressure on public sector oil companies.

Under the revised rates, petrol prices increased by around Rs 3 to Rs 3.46 per litre across different states, while diesel prices rose between Rs 3 and Rs 3.56 per litre depending on local taxes and levies imposed by state governments.

In the national capital, petrol prices climbed by Rs 3 to reach Rs 97.77 per litre, while diesel prices rose to Rs 90.67 per litre. Mumbai also saw a steep increase, with petrol rates touching Rs 106.64 per litre after a Rs 3.10 hike. Diesel prices in the financial capital rose by Rs 3.11 to Rs 93.14 per litre.

Kolkata recorded one of the highest fuel prices among metropolitan cities. Petrol crossed the Rs 108 mark and reached Rs 108.74 per litre, while diesel prices increased to Rs 95.13 per litre. In Chennai, petrol prices rose to Rs 103.67 per litre, and diesel climbed to Rs 95.25 per litre following the latest revision.

Hyderabad continued to register the highest petrol prices among major Indian cities. Petrol rates in the Telangana capital surged by Rs 3.39 to Rs 110.89 per litre, while diesel prices climbed sharply to Rs 98.96 per litre.

Thiruvananthapuram remained another high-priced fuel market in the country. Petrol prices there rose to Rs 110.75 per litre, while diesel rates increased by Rs 3.37 to touch Rs 99.63 per litre, the highest diesel price among major cities.

Bengaluru also witnessed a noticeable jump in rates. Petrol prices in the Karnataka capital increased by Rs 3.25 to Rs 106.21 per litre, while diesel rose by Rs 3.11 to Rs 94.10 per litre.

In the National Capital Region, Gurugram recorded petrol prices at Rs 98.47 per litre after a Rs 3.17 increase, while Noida saw petrol prices rise by Rs 3.04 to Rs 97.78 per litre.

Lucknow remained comparatively cheaper than several other major urban centres despite the hike. Petrol prices in the Uttar Pradesh capital rose by Rs 2.82 to Rs 97.55 per litre.

Jaipur also saw fuel rates rise significantly, with petrol reaching Rs 107.97 per litre after a Rs 2.94 increase. In Bhubaneswar, petrol prices climbed by Rs 3.22 to Rs 104.19 per litre.

Among all major cities, Chandigarh continued to have the lowest fuel prices despite the latest revision. Petrol there increased by Rs 2.97 to Rs 97.27 per litre, while diesel prices rose by Rs 2.80 to Rs 85.25 per litre.

The latest fuel price hike is expected to have a wider impact on transportation costs, logistics, and inflationary pressures across sectors. Analysts believe continued instability in global energy markets, particularly due to geopolitical tensions in West Asia, may keep pressure on domestic fuel prices in the coming weeks.

Team Maverick.