Fuel Prices Rise Again Across India for Third Time in 10 Days Amid Global Oil Pressure

New Delhi, May 2026: Petrol and diesel prices were increased across India on Saturday, marking the third revision in retail fuel rates within just 10 days, as global crude oil markets continue to remain volatile amid geopolitical tensions in West Asia.

State-owned oil marketing companies increased petrol prices by ₹0.87 per litre and diesel prices by ₹0.91 per litre in the latest round of revisions. The increase reflects sustained pressure from rising international crude oil prices, which have remained unstable due to ongoing global supply concerns.

In the national capital, Delhi, petrol prices rose from ₹98.64 to ₹99.51 per litre, while diesel increased from ₹91.58 to ₹92.49 per litre, according to PTI. The revision has been implemented uniformly across major cities, leading to a nationwide impact on retail fuel costs.

In Kolkata, petrol is now priced at ₹110.64 per litre, while diesel stands at ₹97.02 per litre after the latest hike.

In Mumbai, petrol has climbed to ₹108.49 per litre, and diesel is now priced at ₹95.02 per litre.

The repeated price increases over a short period have raised concerns among daily commuters, transport operators, and businesses, many of whom are already facing rising operational expenses due to inflationary pressures. Higher fuel costs are expected to further impact logistics, public transport, and the pricing of essential goods.

The latest revision comes a day after the Ministry of Petroleum and Natural Gas assured the public that India has sufficient petrol and diesel supplies to meet demand. The ministry stated that fuel availability remains stable across the country and urged citizens not to panic or rush to fuel stations unnecessarily.

It added that any temporary congestion or pressure at select retail outlets is being actively managed through continuous monitoring and coordinated supply efforts by oil marketing companies. Authorities emphasised that distribution systems are functioning smoothly and are being closely supervised to avoid disruptions.

Officials further highlighted the importance of responsible consumption during periods of global uncertainty and high demand. They said public cooperation is essential to ensure uninterrupted fuel availability across all regions.

Earlier, on May 16, fuel prices had already witnessed a sharper upward revision, with petrol and diesel rates increasing by around ₹3 per litre in several cities following adjustments by state-run oil companies.

Economists and industry experts have cautioned that sustained increases in fuel prices could have wider macroeconomic implications. Higher transportation and logistics costs may eventually translate into increased prices of essential commodities and services, adding inflationary pressure on households.

However, government officials have defended the revisions, stating that the adjustments are necessary to offset rising import costs and maintain financial stability in the oil marketing system. They also pointed to global crude oil volatility and geopolitical tensions as key factors influencing domestic fuel pricing.

With global energy markets remaining uncertain, further fluctuations in fuel prices cannot be ruled out, leaving consumers and businesses closely watching the situation in the coming weeks.

Team Maverick