Petrol, Diesel prices hiked again amid Iran war; fuel rates rise for second time in a week

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Fuel prices across India have increased once again amid the ongoing Iran conflict, marking the second hike within a week. Oil marketing companies on Tuesday raised petrol and diesel prices by nearly 90 paise per litre after a previous increase of Rs 3 per litre on May 15.

In Delhi, petrol prices have gone up by 87 paise and are now being sold at Rs 98.64 per litre. Diesel prices in the national capital have also increased by 91 paise, taking the rate to Rs 91.58 per litre.

The latest revision comes just days after the earlier price hike, when petrol prices in Delhi rose from Rs 94.77 to Rs 97.77 per litre, while diesel increased from Rs 87.67 to Rs 90.67 per litre.

Mumbai also witnessed a sharp increase in fuel prices. Petrol became costlier by 91 paise and is now retailing at Rs 107.59 per litre, while diesel prices rose by 94 paise to Rs 94.08 per litre.

In Kolkata, petrol prices recorded the highest jump among metro cities, increasing by 96 paise to reach Rs 109.70 per litre. Diesel prices there also climbed by 94 paise and are now being sold at Rs 96.07 per litre.

Chennai saw petrol prices rise by 82 paise, taking the rate to Rs 104.49 per litre. Diesel prices in the city increased by 86 paise and reached Rs 96.11 per litre.

Iran Conflict Impacting Global Oil Supply

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The ongoing tensions in West Asia, particularly the Iran war, have disrupted the global crude oil supply chain, leading to volatile international oil prices. Since India imports a significant portion of its crude oil requirements, fluctuations in global crude prices directly affect domestic fuel rates.

According to a recent report by the Petroleum Planning and Analysis Cell (PPAC), crude oil prices have surged sharply since the conflict began. The Indian crude basket price, which averaged $69.01 per barrel in February 2026, has risen to $110.73 per barrel as of May 15, 2026 an increase of more than 60 percent.

India imports over 85 percent of its crude oil requirements and nearly 60 percent of its LPG from international markets. Earlier, a major share of these supplies passed through the Strait of Hormuz, which has now been severely affected due to tensions between the United States and Iran.

The weakening Indian rupee is also adding pressure on fuel prices. As the rupee slipped to 96 against the US dollar, India’s import bill increased significantly, forcing oil marketing companies to pass a part of the burden onto consumers.

Apart from petrol and diesel, CNG prices in Delhi-NCR were also increased recently. Delhi’s CNG rate has now crossed Rs 80 per kilogram after another Re 1 hike, following the earlier Rs 2 increase last week.

The fuel price hike is expected to affect transportation costs and daily-use commodities across the country. Public transport fares, taxi services, logistics, and goods transportation may become more expensive, which could eventually push up the prices of essential items as well.

As per the sources, experts believe that if crude oil prices continue to rise in the international market, petrol and diesel prices in India could increase further in the coming days, raising concerns over inflation and higher living costs.

Also read: UP: Notorious Criminal With 25 Cases Intercepted in Police Encounter in Bulandshahr

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