Petrol, diesel prices hiked by ₹3/litre; CNG rates also increased in Delhi and Mumbai

Petrol and diesel prices across India have been increased by ₹3 per litre each from Friday, while CNG prices in Delhi and Mumbai have gone up by ₹2 per kg. In Delhi, petrol now costs ₹97.77 per litre and diesel ₹90.67 per litre, while CNG has risen to ₹79.09 per kg.

Mumbai now sees petrol priced at ₹106.68 per litre and diesel at ₹93.14 per litre. In Kolkata, petrol costs ₹108.74 per litre and diesel ₹95.13 per litre. Chennai has recorded petrol prices of ₹103.67 per litre and diesel prices of ₹95.25 per litre. Fuel prices continue to differ across states because of local taxes.

Crude oil spike triggers increase

The latest revision comes after a sharp rise in global crude oil prices linked to tensions in the Middle East. Industry sources said oil prices have climbed more than 50 per cent since US-Israeli strikes on Iran on February 28 and the resulting disruption of energy movement through the Strait of Hormuz.

State-run fuel retailers had so far absorbed part of the higher crude oil costs instead of fully passing them on to consumers. However, industry estimates suggest oil companies are still losing around ₹11 per litre on petrol and ₹39 per litre on diesel despite the latest increase.

Private retailers had already revised prices earlier this year. Nayara Energy raised petrol prices by ₹5 per litre and diesel by ₹3 in March, while Shell increased petrol prices by ₹7.41 and diesel by ₹25 per litre from April 1.

Industry reaction

Industry sources said the latest increase appears calibrated to reduce pressure on oil marketing companies without causing a major inflation shock. However, economists expect higher fuel prices to raise transport and logistics costs across sectors.

India’s retail inflation rose to 3.48 per cent in April 2026 from 3.40 per cent in March, while wholesale inflation climbed to 8.3 per cent, a 42-month high driven mainly by fuel and energy costs.

Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings. ICRA Ltd, said the "modest" hike provides limited relief to the oil marketing companies.

"ICRA estimates that at crude price of USD 105-110 per barrel and considering past 10-year average crack spreads of auto fuels, oil marketing companies incur a loss of about ₹500 crore daily on the sale of auto fuels and domestic LPG, even after factoring the fuel price hike. Accordingly, the oil marketing companies would need to relook at the retail prices in case elevated crude oil prices persist," he said.

(With inputs from PTI)

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.