For the second time in a span of five days, prices of petrol and diesel were hiked again on Tuesday (May 19, 2026) by about 90 paise per litre across the country and across all variants.
With the latest hike, prices of the two retail fuels have increased about ₹3.90 per litre since Friday (May 15, 2026) when it was hiked ₹3 litre after a span of four years.
Effective Tuesday (May 19, 2026), the price of petrol in Delhi has been hiked 87 paise to ₹98.64 per litre, while diesel has been hiked 91 paise to ₹91.58 per litre.
Petrol and diesel prices hike updates on May 15, 2026
The premium variant of diesel, that is, XG of Indian Oil, is now priced ₹96.90 per litre following a 91 paise hike. While the high-octane variant pf petrol, that is, XP95 has been hiked 87 paise to ₹105.76 per litre.
The steepest hike in the price of the two retail fuels has been observed in Kolkata, that is, in comparison to peers Delhi, Mumbai and Chennai.
Price of petrol in Kolkata has been hiked by 96 paise to ₹109.70 per litre. Meanwhile, price of diesel has soared 94 paise to ₹96.07 per litre.
Nearly similar trends, that is, about 90 paise hikes were observed in the other metros as well.
Prices of petrol in Mumbai have been hiked 91 paise and is now being sold at ₹107.59 per litre. Price of diesel have been hiked 94 paise to ₹94.08 per litre.
Chennai woke up to an 82 paise hike in prices of petrol and 86 paise hike in diesel. They are now priced at ₹104.49 per litre and ₹96.11 per litre respectively.
The latest hike is the second of such price hikes indicative of pressure on retail fuel as the benchmark brent crude futures continue to soar amid the escalating tensions in West Asia.
According to government data, India’s crude oil basket until May 15, 2026 since the start of the month, has averaged $106.69 per barrel. Further, in the morning hours of Tuesday, Brent crude futures (July) were trading 0.156% higher at $109.34 per barrel.
On Monday (May 18, 2026), the government had informed that losses being incurred by oil-marketing companies from liquified petroleum gas (LPG), petrol and diesel combined have come down by ₹250 crore to ₹750 crore following the ₹3 hike in prices of petrol and diesel, which was done May 15.
It was also informed that as on date, the government there was no bailout package for oil-marketing companies being considered.
Prime Minister Narendra Modi last week urged fuel conservation, work-from-home practices and reduced travel as higher energy prices strain India’s foreign exchange reserves and threaten to widen the current account deficit for a third straight year.
Some State governments have already instructed departments to limit travel, avoid physical meetings and operate with reduced office staffing.
For the second time in a span of five days, prices of petrol and diesel were hiked again on Tuesday (May 19, 2026) by about 90 paise per litre across the country and across all variants.https://t.co/EGFuPqVWZzpic.twitter.com/mBE6Wlxwm7
Private fuel retailers had already increased pump prices. Nayara Energy, the country’s largest private fuel retailer, in March, raised petrol prices by ₹5 per litre and diesel by ₹3, while Shell increased petrol prices by ₹7.41 and diesel by ₹25 per litre from April 1. In Bengaluru, Shell sells petrol at ₹119.85 per litre and diesel at ₹123.52.
Domestic cooking gas LPG prices were raised in March by ₹60 per cylinder, but they are still way lower than the actual cost. Oil companies are losing ₹674 per 14.2-kg cylinder of LPG.
Industry sources said the price hike appears calibrated — enough to partially ease margin pressure on oil companies without creating a major inflationary shock.
The increase, however, will have some impact on inflation, they said.
India’s retail inflation, measured by the Consumer Price Index (CPI), rose to 3.48% in April 2026 from 3.40% in March, while wholesale price inflation (WPI) surged to 8.3%, a 42-month high, driven by a sharp rise in fuel and energy prices amid elevated global crude oil rates.
(With inputs from PTI)
Published - May 19, 2026 06:36 am IST
Source: The Hindu - India News
