Petrol, Diesel Price Hike Highlights: Opposition flags inflation concerns as Centre raises petrol, diesel prices. Would there be more hikes ahead?

Newly increased fuel prices are displayed at a petrol pump in Malvan, India, May 15, 2026. | Photo Credit: FRANCIS MASCARENHAS

Petrol, Diesel, CNG Price Hike Highlights: The oil marketing companies (OMCs) have hiked the prices of transport fuels citing significant losses from rising crude costs. Prices of petrol and diesel have been raised by around ₹3 per litre and compressed natural gas (CNG) by ₹2 per kg.

The PSU OMCs — Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) — have been losing around ₹20 per litre on the sale of petrol and around ₹100 per litre on diesel sales due to high oil prices and unchanged retail prices in India.

The retail prices of petrol and diesel had been unchanged since March 2024. They were last reduced by ₹2 per litre ahead of the Lok Sabha elections in 2024. Effectively, the prices have been raised for the first time after April 2022.

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