Automobiles lined up in Guntur Metropolis for petrol and diesel. File.
| Picture Credit score: T. Vijaya Kumar
Petrol and diesel costs on Friday (Might 15, 2026) have been hiked by ₹3 per litre every as oil firms handed on a part of the spike in world power costs to customers.
Petrol value was hiked to ₹97.77 per litre from ₹94.77 within the nationwide capital. Diesel now prices ₹90.67 as towards ₹89.67 per litre beforehand, in keeping with trade sources.
The retail promoting value of petrol in Mumbai, Kolkata, and Chennai will now be ₹106.68, ₹108.74, and ₹103.67 respectively.
Diesel, however, will now price ₹93.14 in Mumbai, ₹95.13 in Kolkata, and ₹95.25 in Chennai.
The rise is a tenth of the specified hike wanted to account for the surge in world power charges for the reason that begin of the West Asia battle.
State-owned oil companies had stored gas value unchanged for 11 weeks regardless of a surge in enter price, however handed on a part of the rise as soon as operations turned financially unsustainable, the sources mentioned.
Costs have remained on freeze since April 2022, however had a one-off discount of ₹2 a litre every on petrol and diesel in March 2024 simply earlier than the Lok Sabha elections.
State-owned Indian Oil Company (IOC), Bharat Petroleum Company Ltd (BPCL) and Hindustan Petroleum Company Ltd (HPCL) had deserted the every day value revision in April 2022 to insulate home customers from a steep value enhance that was warranted due to worldwide oil costs capturing by way of the roof submit Russia’s invasion of Ukraine.
They incurred heavy losses within the first half of the 2022-23 fiscal 12 months, which they recouped when charges fell in subsequent months.
However the warfare in West Asia has once more despatched worldwide oil costs hovering by over 50%.
The basket of crude oil that India imports averaged $69 per barrel in February earlier than the warfare in West Asia broke out. It averaged $113-114 per barrel in subsequent months.
Revealed – Might 15, 2026 06:54 am IST
