Petrol, Diesel Prices Hiked by ₹3: Check New Fuel Rates in Delhi, Chennai, Bengaluru, Mumbai

The Centre on Friday announced an increase in fuel prices, raising petrol and diesel rates by ₹3 per litre with effect from 6 am on May 15, amid mounting pressure from the global energy crisis triggered by the ongoing Iran conflict and disruptions to international oil supply routes.

The latest hike comes against the backdrop of escalating tensions in West Asia following the outbreak of war involving Iran on February 28. The conflict has intensified concerns over the security of the Strait of Hormuz, a crucial maritime passage through which a substantial portion of the world's crude oil shipments passes.

Fears of prolonged disruptions in the region have driven up global crude oil prices and increased pressure on fuel-importing nations such as India.

In Delhi, the revised prices pushed petrol to ₹97.77 per litre from ₹94.77, while diesel climbed to ₹90.67 per litre from ₹87.67. The government also increased compressed natural gas (CNG) prices by ₹2 per kilogram, taking the retail price to ₹79.09 per kg.

The government's decision follows repeated warnings from senior officials about the economic consequences of volatility in global energy markets. Last week, Prime Minister Narendra Modi called for "collective responsibility" from citizens to help the country manage the impact of the crisis.

Petrol New Rates - City Wise

He urged people to conserve fuel and minimise unnecessary consumption of petrol, diesel and other imported fuels in order to reduce the burden on the economy and save valuable foreign exchange reserves.

Diesel New Rates - City Wise

The Prime Minister also stressed the need to gradually reduce dependence on imported energy sources, saying prudent fuel use would help cushion India from external shocks caused by geopolitical instability.

In response to the crisis, several states have introduced measures aimed at cutting fuel consumption and reducing administrative expenditure. These include reducing official vehicle convoys, encouraging work-from-home arrangements for employees, and promoting the use of public transport systems.

Earlier this week, Union Petroleum and Natural Gas Minister Hardeep Singh Puri indicated that additional increases in fuel prices could not be ruled out if global uncertainties continue. He noted that petrol and diesel prices had remained unchanged for the last four years and pointed out that the previous revision took place in 2022.

The minister also highlighted the growing financial strain on oil marketing companies (OMCs), which are reportedly facing significant under-recoveries due to rising international crude prices. According to government estimates, these losses are expected to touch nearly ₹2 lakh crore if current trends persist.

The latest increase is expected to have a cascading effect on transportation costs and household expenses, with analysts warning that inflationary pressures could intensify in the coming weeks if crude oil prices remain elevated.