Fuel Prices Hiked for Fourth Time in Two Weeks Across India Amid Global Oil Pressure

New Delhi, May 2026 : Fuel prices across India were increased once again on Monday, marking the fourth hike in just two weeks, as state-run oil marketing companies continued to adjust retail rates in response to rising global crude oil prices.

In the latest revision, petrol prices in Delhi were increased by ₹2.61 per litre, while diesel prices rose by ₹2.71 per litre. With this adjustment, petrol now costs ₹102.12 per litre compared to the earlier ₹99.51, while diesel is priced at ₹95.20 per litre, up from ₹92.49.

This latest increase comes just two days after another upward revision on Saturday, when petrol and diesel prices were raised by ₹0.87 and ₹0.91 per litre respectively. The continuous upward trend reflects sustained volatility in global oil markets and persistent supply-side pressures.

According to industry sources, the repeated hikes are largely driven by rising international crude oil prices and geopolitical tensions in West Asia, which have disrupted market stability and increased import costs for India, a major oil-importing country.

The back-to-back revisions are expected to have a wider economic impact, particularly on transportation costs, logistics operations, and household budgets. Urban centres that rely heavily on road transport are likely to feel the pressure more acutely, with potential spillover effects on the prices of essential goods and services.

Transport operators, daily commuters, and small businesses have expressed concern over the steady rise in fuel costs, warning that continued increases could significantly raise operational expenses and reduce profit margins across sectors.

Earlier, the Ministry of Petroleum and Natural Gas reassured citizens that fuel supplies across the country remain stable and adequate. It urged the public not to engage in panic buying or unnecessary crowding at fuel stations, stating that distribution networks are functioning efficiently.

The ministry also noted that any localized pressure at retail outlets is being managed through constant monitoring and coordinated action by oil marketing companies to ensure uninterrupted supply.

Officials further emphasized that responsible fuel consumption and public cooperation are essential during this period of global uncertainty and fluctuating demand patterns.

This is not the first significant revision in recent weeks. On May 16, fuel prices had already seen a sharper increase of around ₹3 per litre in several cities, following adjustments made by state-run oil companies in line with global market trends.

Economists have cautioned that continued increases in fuel prices could trigger broader inflationary pressure in the economy by raising transportation and logistics costs, which in turn may impact the prices of essential commodities.

However, government officials maintain that periodic revisions are necessary to reflect global crude oil movements and to ensure financial stability in fuel distribution while maintaining uninterrupted supplies across the country.