Oil marketing companies have announced a hike of ₹3 per litre in petrol and diesel prices effective May 15, 2026. The revision comes amid sustained volatility in global crude oil markets and rising import costs, adding pressure on household budgets and transport operators across India.
Officials stated that the increase reflects higher international crude benchmarks, with Brent crude hovering above $126 per barrel. The adjustment is part of the fortnightly pricing mechanism that aligns domestic fuel rates with global market trends.
The hike is expected to impact retail inflation, as transport and logistics costs rise. Passenger vehicle fares, freight charges, and aviation turbine fuel-linked costs are likely to see upward revisions in the coming weeks.
Industry experts note that while the government recently reduced export duties on diesel and aviation turbine fuel to support refinery margins, domestic consumers continue to face higher pump prices due to global supply disruptions and geopolitical tensions.
Petrol and diesel prices vary across states depending on local taxes, but the ₹3 per litre hike will be uniformly applied nationwide by oil marketing companies.
