New Delhi, May 15: Fuel prices across India increased sharply on Friday after the Centre announced a Rs 3 per litre hike in petrol and diesel rates amid escalating tensions in the Middle East and continued disruption of global energy supplies through the strategically crucial Strait of Hormuz. The latest fuel price revision comes as the ongoing regional conflict and maritime blockade have triggered volatility in international crude oil and gas markets, raising concerns over energy security and import costs for countries heavily dependent on overseas fuel supplies, including India.
Following the hike, petrol prices in major Indian cities have crossed key psychological levels:
- In New Delhi, petrol will now cost Rs 97.77 per litre
- In Kolkata, petrol prices have risen to Rs 108.74 per litre
- In Mumbai, petrol will now be sold at Rs 106.68 per litre
- In Chennai, petrol prices have touched Rs 103.67 per litre
Diesel prices have similarly witnessed a steep rise after the government-approved revision:
- Diesel in New Delhi now costs Rs 90.67 per litre
- In Kolkata, diesel prices stand at Rs 95.13 per litre
- In Mumbai, diesel is now priced at Rs 93.14 per litre
- In Chennai, diesel rates have climbed to Rs 95.25 per litre
Compressed Natural Gas (CNG) prices were also revised upward in the national capital. CNG in New Delhi will now cost Rs 79.09 per kg, adding further pressure on public transport operators, cab services and private vehicle owners who had shifted to gas-based fuel for cost savings. The fuel price increase comes amid growing instability in the Middle East, particularly around the Strait of Hormuz — one of the world’s most critical oil shipping routes. Any disruption in the region directly affects crude oil transportation and global energy pricing. India imports a substantial portion of its crude oil requirements, making domestic fuel prices highly sensitive to geopolitical developments and fluctuations in global energy markets.
Economists believe the latest fuel price hike could further increase transportation costs, logistics expenses and overall inflation across sectors. Rising diesel prices are expected to impact freight movement and agricultural supply chains, while higher petrol and CNG rates may strain household budgets in urban areas. The Centre and oil marketing companies are closely monitoring international crude prices as fears of prolonged instability in the Middle East continue to influence the global fuel market.
