Petrol, Diesel Prices Rise Again: Delhi Hits ₹98.64

What changed in fuel prices this week

Petrol and diesel prices were revised upward again across key metro cities, marking the second increase in less than a week. State-run oil marketing companies (OMCs) raised pump prices by around 90 paise per litre in the latest round. In Delhi, petrol increased by ₹0.87 per litre and diesel by ₹0.91 per litre. Similar upward revisions were reported in Mumbai, Kolkata and Chennai. The move follows last week’s sharp increase of ₹3 per litre each in petrol and diesel.

Multiple reports described the latest revision as being announced on Tuesday, while another described it as taking effect on Monday. Regardless of the day reference, the city-wise retail prices published for the latest round were consistent across the four metros. The back-to-back hikes have pushed petrol well above ₹100 per litre in several cities, including Mumbai and Kolkata. The timing has drawn attention because it comes soon after a long stretch of stable retail rates.

Latest metro-wise rates after the second hike

In the national capital, petrol is now sold at ₹98.64 per litre and diesel at ₹91.58 per litre after the latest increase. Mumbai’s petrol price moved up to ₹107.59 per litre, while diesel rose to ₹94.08 per litre. Kolkata continued to have the highest petrol price among the four metros, at ₹109.70 per litre, while diesel there is ₹96.07 per litre. Chennai’s petrol rose to ₹104.49 per litre and diesel to ₹96.11 per litre.

The size of the latest hike varied slightly across cities. Kolkata saw the steepest petrol increase in this round, up ₹0.96 per litre. Chennai recorded the smallest petrol increase among the four, up ₹0.82 per litre. Diesel increases ranged from ₹0.86 per litre in Chennai to ₹0.94 per litre in Mumbai and Kolkata.

How the earlier ₹3-per-litre hike set the stage

The latest revision came soon after a nationwide increase of around ₹3 per litre announced on May 15. In Delhi, that earlier hike raised petrol from ₹94.77 per litre to ₹97.77 per litre, and diesel from ₹87.67 per litre to ₹90.67 per litre. Other metros also saw sharp jumps in the May 15 revision. Petrol moved to ₹108.74 per litre in Kolkata, ₹106.68 per litre in Mumbai and ₹103.67 per litre in Chennai.

Diesel prices after the May 15 hike were listed as ₹95.13 per litre in Kolkata, ₹93.14 per litre in Mumbai and ₹95.25 per litre in Chennai. In the same set of reports, Kolkata recorded a petrol hike of ₹3.29 per litre, Mumbai ₹3.14, and Chennai ₹2.83. Diesel hikes were also sizeable, including ₹3.11 in Kolkata and Mumbai, and ₹2.86 in Chennai.

Why prices were raised, as cited in reports

Reports linked the back-to-back revisions to volatility in global crude markets and supply concerns. One account attributed the move to higher global energy prices tied to the West Asia conflict, described in parts of the coverage as the ongoing Iran war. Another referenced uncertainty around access to Russian oil as part of broader supply concerns.

The updates also noted that the latest increase was only a fraction of what would be needed to fully offset the sharp jump in global energy prices since the conflict began. That framing suggests OMCs are responding to international cost pressures while not passing through the entire increase at once, at least as implied by the reports. The city-wise prices also reflect local taxes and transportation costs, which is why retail rates differ across metros.

Inflation backdrop: April data cited in coverage

Some reports pointed to a rise in wholesale fuel inflation in April as part of the wider context. The figures cited included petrol inflation jumping to 32.4% from 2.50% a month earlier. For high-speed diesel, inflation was reported to have accelerated to 25.19% from 3.62% the previous month.

These inflation readings were presented alongside the pricing revisions, indicating that fuels were among the contributors to broader cost pressures. While retail prices are not the same as wholesale inflation measures, the direction of both sets of numbers has been upward in the coverage. The combination of higher pump prices and elevated inflation measures tends to raise transport and logistics costs across the economy.

City-wise snapshot: Friday vs latest revision

The table below summarises the published metro prices after the May 15 hike and after the latest revision, using only the rates provided in the reports.

What it means for households and transport costs

With the latest hike, commuters in the National Capital Region and other metros face higher day-to-day fuel bills immediately, given that the revision applies to retail pump prices. The reports also flagged pressure on household budgets and transport costs as fuel prices are a direct input for personal mobility and local services. For commercial users, diesel is a key cost component for last-mile delivery, trucking and intra-city logistics.

The impact is more visible in cities where petrol prices are already above ₹100 per litre, such as Mumbai and Kolkata. Small per-litre changes can compound quickly for high-frequency users like cab operators, delivery fleets and small transporters. Even for private users, a second hike within days can change monthly fuel expenses, especially for long-distance commuting.

CNG prices were also revised in Delhi and Mumbai

Separately, some reports said CNG prices were raised by ₹2 per kg. In Delhi, CNG was reported to have moved to ₹79.09 per kg from ₹77.09 per kg. In Mumbai, CNG was also reported to have been increased by ₹2 per kg, with the price stated as ₹84 per kg across the Mumbai Metropolitan Region.

These revisions matter because CNG is a primary fuel for a large share of city taxis, three-wheelers and some private vehicles in Delhi and parts of Maharashtra. A rise in CNG, alongside petrol and diesel, broadens the effect across multiple vehicle categories. It also reduces the immediate cost advantage that some users rely on when switching away from petrol.

Market impact and why investors track these moves

Fuel price changes are closely watched in India because they can influence inflation prints, consumer sentiment and operating costs for transport-intensive sectors. The coverage explicitly connected the hikes to crude volatility, which is relevant for oil marketing companies and downstream margins. Higher retail prices can improve per-litre realisations, but the broader business impact depends on how quickly input costs move and how pricing is managed.

The cited wholesale inflation numbers for petrol and diesel add another layer for market participants tracking inflation-linked policy sensitivities. When fuel becomes a larger contributor to inflation, it can affect expectations around broader price pressures. The reports did not provide any official guidance on future revisions, so the only confirmed information is the sequence of hikes and the published city-wise rates.

Conclusion

Petrol and diesel prices have risen again across Delhi, Mumbai, Kolkata and Chennai, marking a second hike within a week after the May 15 increase. Delhi now stands at ₹98.64 per litre for petrol and ₹91.58 per litre for diesel, while Kolkata remains the costliest metro for petrol at ₹109.70 per litre. Reports linked the revisions to global crude volatility and supply concerns amid the West Asia conflict. With city-wise retail prices updated twice in days, the next key update for consumers and markets will be the next scheduled revision from oil marketing companies.