Petrol, Diesel Prices Hiked By ₹3/Litre: Check New Rates in Delhi, Mumbai, Bengaluru, Chennai, Kolkata

India's state-owned fuel retailers raised petrol and diesel prices by ₹3 per litre today (May 15, 2026), marking the first such revision in nearly four years. The hike, effective, comes as surging global crude oil prices driven by the ongoing West Asia conflict pushed public sector oil marketing companies into mounting losses.

State-run retailers, including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, had absorbed under-recoveries for months as Brent crude surged above USD 100 per barrel.

Image Source: PTI

The ₹3 revision is aimed at recouping a portion of those accumulated losses, with fuel price stability having been maintained through both the 2024 election cycle and well into 2026. State-run retailers have also hiked the price of CNG by ₹2/kg.

Petrol and Diesel Rates - Delhi, Mumbai, Chennai, Kolkata & Bengaluru

In Delhi, petrol now retails at ₹97.77 per litre, up from ₹94.77, while diesel has moved to ₹90.67 from ₹87.67. Mumbai drivers will pay ₹106.68 per litre for petrol and ₹93.14 for diesel. Kolkata sees the highest petrol rate among the metros at ₹108.74, with diesel at ₹95.13.

Chennai petrol stands at ₹103.67 per litre, with diesel at ₹95.25. In Bengaluru, petrol has risen to ₹106.17 per litre from ₹102.96, with diesel now priced at ₹88.94.

City	Petrol (Rs/litre)	Diesel (Rs/litre)	Increase
Delhi	97.77 (was 94.77)	90.67 (was 87.67)	+Rs 3.00
Mumbai	106.68 (was 103.54)	93.14 (was 90.03)	+Rs 2.83–3.14
Kolkata	108.74 (was 105.41)	95.13 (was 91.76)	+Rs 2.98–3.33
Chennai	103.67 (was 100.80)	95.25 (was 92.34)	+Rs 2.86–2.91
Bengaluru	106.17 (was 102.96)	88.94 (was 85.76*)	+Rs 3.18–3.21

Why Prices Were Held For So Long

India's retail fuel prices had remained frozen since May 2022, when the government last intervened with an excise duty cut to cushion consumers from a previous global oil price spike. State-run oil marketing companies took on the burden of elevated crude costs rather than pass them on at the pump, accumulating losses estimated at Rs 30,000 crore.

With Brent crude sustaining levels above USD 100 per barrel through early 2026 due to supply disruptions linked to the West Asia conflict, the losses became too large to absorb further with fuel suppliers reportedly bearing a loss of about ₹1,600 crore daily.

Today's revision does not fully recover those losses. It is a partial correction, and further hikes remain possible if global crude prices do not ease in the coming weeks. Diesel prices carry particular weight for the broader economy, as the fuel powers the bulk of India's freight and agricultural machinery, meaning any sustained increase will feed directly into transport and food costs.

Panic Buying Before the Announcement

Reports of a possible steep hike had already begun circulating yesterday, hours before the official announcement, sending consumers rushing to petrol stations across the country. India Today reported long queues formed at several outlets, as many drivers/riders opted to fill up one last time before the price hike, which lead to fuel stations shutting down and putting up no fuel