India Raises Retail Fuel Prices for First Time Since Iran War Started
Oil firms passed on part of a surge in global energy costs after keeping domestic fuel prices frozen for 11 weeks, sources said.
- On Friday, May 15, 2026, Indian oil companies hiked petrol and diesel prices by ₹3 per litre each, passing on a portion of surging global energy costs to domestic consumers.
- The war in West Asia has sent international crude oil prices soaring by over 50%, forcing state-owned firms to adjust rates after holding fuel prices steady for 11 weeks.
- State-Owned Indian Oil Corporation , Bharat Petroleum Corporation Ltd , and Hindustan Petroleum Corporation Ltd maintained a price freeze since April 2022, broken only by a ₹2 reduction before the March 2024 Lok Sabha elections.
- Petrol now costs ₹106.68 in Mumbai, ₹108.74 in Kolkata, and ₹103.67 in Chennai, while diesel prices reached ₹93.14, ₹95.13, and ₹95.25 in those respective cities.
- This ₹3 increase represents only a 10th of the desired hike needed to account for the total surge in global energy rates since the West Asia conflict began.
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66 Articles
India raises retail fuel prices for first time since Iran war started
India's state-run fuel retailers have raised petrol and diesel prices for the first time in four years by 3 rupees ($0.03) per litre, or more than 3%, according to dealers, to recoup some of the losses incurred due to higher global crude oil prices.
"This is Unacceptable": Tamil Nadu CM Vijay slams fuel price hike, urges rollback
Reacting to the hike, the CM said, "The Union Government Public Sector Oil Companies have increased the prices of petroleum products, especially petrol by Rs. 3 and diesel by Rs. 3 per litre. This is unacceptable. When the price of crude oil decreases in the international market, the petrol companies do not reduce the prices of petrol and diesel accordingly. Instead, those companies only take the profit."
'A Very Small Rise': IOCL’s Arvind Kumar Addresses ₹3 Fuel Price Hike Amid Global Pressure
Indian Oil Corporation Limited (IOCL) refineries are currently operating at more than 100 per cent capacity to ensure there is no shortage of fuel at retail outlets following a marginal rise in domestic petrol and diesel prices.
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