
Following the latest revision by state-run oil marketing companies including Indian Oil Corporation, petrol prices were increased by ₹2.61 per litre on Monday, while diesel prices rose by ₹2.71 per litre. According to reports from NDTV Profit, this marks the fourth fuel price hike in just 10 days since the first increase after assembly election results on May 4. In New Delhi, petrol now costs ₹102.12 per litre, while diesel has climbed to ₹95.20 per litre. Since May 4, petrol prices have risen by roughly ₹7.5 per litre nationwide, with both fuels seeing incremental increases of more than ₹7 per litre in the last few days. The latest hike comes as oil companies face mounting pressure from sharp rise in international crude oil prices, which have crossed $100 per barrel from around $70 per barrel before the Iran-US conflict. As per The Times of India, the hike in fuel prices were announced as state-owned firms continued to pass on rising international prices to consumers.
Only three regions in India still remain below the ₹100-per-litre threshold. As reported by NDTV Profit, Dadra and Nagar Haveli and Daman and Diu is hovering just below the mark at ₹99.50 per litre, while Arunachal Pradesh remains at ₹97.99. The cheapest petrol in the country is currently available in Andaman and Nicobar Islands at ₹88.66 per litre. Fuel prices continue to vary across cities based on transport costs, dealer commissions and local taxes, but the broader trend reflects mounting pressure from global crude markets and regional geopolitical instability. In Telugu states, Vijayawada petrol touched ₹117.19, while Guntur crossed ₹117.59, with Hyderabad witnessing a major jump in fuel prices.
The latest hike has pushed petrol prices significantly higher across major cities. In Bengaluru, petrol now costs ₹108.77 per litre (up ₹2.61), while Hyderabad leads with the highest petrol price at ₹115.73 per litre (up ₹2.88). Thiruvananthapuram follows closely at ₹115.49 per litre (up ₹2.88). Diesel prices have also climbed substantially, with Hyderabad reporting the highest rate at ₹103.82 per litre (up ₹2.88), Thiruvananthapuram at ₹104.41 per litre (up ₹2.88), and Jaipur seeing a steep increase of ₹3.34, pushing diesel prices to ₹98.39 per litre. According to The Times of India, diesel prices also continued to climb across cities, with Hyderabad reporting the highest diesel rate among the listed cities at ₹103.82 per litre after a ₹2.88 hike. In Telugu states, Vijayawada and Guntur have seen petrol prices exceed ₹117 per litre, significantly higher than Delhi rates due to VAT taxes by respective governments.
Petroleum Minister Hardeep Singh Puri had earlier revealed that OMCs have been bearing losses of around ₹1,000 crore daily and were staring at a loss of ₹1-1.2 lakh crore in the first quarter of FY27. According to NDTV Profit, up until the third hike, OMCs have already been able to cut back on ₹330 crore of daily losses. Analysts estimate that every 50 paise per litre increase in fuel marketing margins is estimated to lift EBITDA by 7% for IOCL, 8% for BPCL and 11% for HPCL. The recent average hike of ₹2.7 per litre would help these companies save on an additional ₹113 crore daily, with OMCs through the four price hikes in 10 days able to cut back on 44% of losses. As per The Times of India, the government had to raise prices after two months of Iran war (which began on February 28), as losses suffered by OMCs became unsustainable.
The repeated fuel price increases are expected to affect multiple sectors and lead to higher daily expenses across the economy. As reported by Bhaskar English, truck and tempo operators may increase freight charges, making vegetables, fruits and ration items transported from other states more expensive. Farmers are likely to face higher expenses for running tractors and pumping sets, which could eventually increase the prices of grains and other agricultural products. Bus fares, auto-rickshaw charges and school transport fees may also increase due to rising diesel prices. To address the financial pressure on oil marketing companies, the Centre had earlier reduced special excise duty on petrol and diesel by ₹10 per litre each, with excise duty on petrol coming down from ₹21.90 to ₹11.90 per litre and diesel from ₹17.80 to ₹7.80 per litre. The Central Government is facing public dissent over the lack of foresight to keep oil prices in check, with the after effects of West Asia crisis clearly evident as fuel and natural gas prices soar at all-time highs.