- Petrol and diesel prices increased by Rs 3 per litre on May 15 due to global price rise
- Oil firms expect Rs 1-1.2 lakh crore losses in Q1 FY 2026-27 amid Middle East conflict
- Petroleum Minister warned PSUs cannot sustain Rs 1,000 crore daily losses on fuel sales
Petrol and diesel prices were increased by Rs 3 per litre each on Friday, May 15 as oil companies passed on part of the spike in global energy prices to consumers.
The hike comes as oil marketing companies are expecting Rs 1-1.2 lakh crore losses in the first quarter of fiscal year 2026-27 amid the Middle East conflict.
Petroleum Minister Hardeep Singh Puri on Tuesday said public sector oil marketing companies may not be able to sustain daily losses of Rs 1,000 crore from selling petrol and diesel below market price. Even RBI Governor said, “If this is to continue for longer period of time, it is just a matter of time before the government will pass on some of the price increases,” at a conference hosted by the Swiss National Bank and the International Monetary Fund in Switzerland on Tuesday.
The latest move marks the first major price hike in petrol and diesel prices since April 2022, when OMCs increased prices by Rs 10 per litre. From March end to early April, 2022, prices were raised 14 times within a 16 day period.
Following the hike, petrol in Delhi will cost Rs 97.77 a litre, while diesel will be priced at Rs 99.67. In Mumbai, petrol will cost Rs 106.68 per litre and diesel at Rs 93.14.
Effective today onwards, check retail selling prices of petrol and diesel in four metro cities:
Petrol prices per litre
Delhi: Rs 97.77 (+ Rs 3.00)
Kolkata: Rs 108.74 (+ Rs 3.29)
Mumbai: Rs 106.68 (+ Rs 3.14)
Chennai: Rs 103.67 (+ Rs 2.83)
Diesel prices per litre
Delhi: Rs 90.67 (+ Rs 3.00)
Kolkata:Rs 95.13 (+ Rs 3.11)
Mumbai: Rs 93.14 (+ Rs 3.11)
Chennai: Rs 95.25 (+ Rs 2.86).
(This is a developing story.)
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