New Delhi, May 15: Fuel prices have increased across the country starting Friday. In the capital, the price of petrol has risen by ₹3.14 per liter, bringing it to ₹97.77. Diesel has also seen a hike of ₹3.11, now costing ₹90.67 per liter.
Additionally, due to the ongoing crisis in the Middle East, oil companies have raised the price of CNG by ₹2 per kilogram. The new rate for CNG in Delhi is now ₹79.09 per kilogram.
The international supply of crude oil and gas has been disrupted, leading to a continuous rise in crude oil prices in the global market. This situation has directly impacted Indian oil companies and consumers alike. Faced with rising costs and significant losses, government oil companies have finally decided to increase petrol and diesel prices.
Indian Oil, Bharat Petroleum, and Hindustan Petroleum have reported substantial losses due to expensive crude oil. Union Petroleum Minister Hardeep Singh Puri has indicated that oil companies are incurring losses exceeding ₹1,000 crore daily. He warned that without a price hike, total losses could surpass ₹1 lakh crore in a single quarter.
According to the Petroleum Planning and Analysis Cell, the average price of crude oil in the Indian basket has remained above $100 per barrel for the past three months. In April 2026, the average was $114 per barrel, and in May, it was around $104 per barrel.
Previously, Prime Minister Narendra Modi urged citizens to conserve fuel, postpone gold purchases, and limit foreign travel to save foreign currency amid the crisis. The rupee has also seen a significant decline, surpassing ₹95 against the US dollar.
Given the ongoing instability in the international market, further fluctuations in fuel prices are expected in the coming days. The addition of excise duty, VAT, dealer commission, and other charges on petrol and diesel places an extra burden on consumers. With rising inflation, the increase in fuel prices will have a direct impact on the wallets of the general public.
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