India Hikes Fuel Prices for the Second Time in a Week
Public sector oil companies' daily losses reduced by Rs 250 crore after the price hike, though they still incur about Rs 750 crore in daily losses, officials stated.
- On Tuesday, May 19, 2026, petrol and diesel prices increased by 90 paise per litre, marking the second hike in less than a week as state-run oil firms ended a nearly four-year freeze on fuel rates.
- This second increase follows a Rs 3 per litre hike on Friday, prompted by surging global crude prices that rose more than 50 per cent since the February 28 US-Israeli strikes on Iran.
- Petroleum Ministry Joint Secretary Sujata Sharma stated Monday that oil marketing companies still incur daily losses of about Rs 750 crore, though recent adjustments reduced combined losses by about Rs 250 crore.
- Fuel prices reached their highest levels since May 2022 following Tuesday's revision, with regional variations persisting due to differing value-added taxes, particularly in Kolkata and Chennai.
- Prime Minister Narendra Modi urged fuel conservation and work-from-home practices last week, citing how higher energy prices strain India's foreign exchange reserves and threaten to widen the current account deficit.
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38 Articles
Petrol and Diesel Price Hike: Petrol and diesel prices in the country have been hit doubly hard in five days. Oil companies say there is no definitive figure yet on how much more expensive fuel will become.
Petrol, Diesel Prices Hiked For a Second Time in a Week Across Indian Cities
Petrol and diesel prices were increased by up to 90 paise per litre on 19 May, marking the second hike in less than a week. The revised rates took immediate effect across major Indian cities, with Delhi, Mumbai, Kolkata, Chennai, and Bengaluru all witnessing significant increases. This follows a previous hike of approximately Rs 3 per litre on 15 May, intensifying concerns over inflation and the cost of living for consumers nationwide.According …
Petrol, diesel prices hiked second time in a week
In Kerala, prices were hiked by 86 and 83 for petrol and diesel, respectively..fuel price hike, petrol price increase, diesel cost rise, fuel rates go up, India fuel prices, petrol diesel new rates, oil price adjustments, petrol pump prices, transport costs, fuel duty impact, economic impact of fuel, consumer fuel costs, national fuel update, regional fuel price changes, Tuesday fuel surge
India Hikes Fuel Prices for the Second Time in a Week
India’s state fuel traders raised retail prices for the second time in less than a week, as they seek to cushion the blow to margins from soaring crude prices while the war in the Middle East drags on with no resolution in sight. Retail fuel prices in the country were hiked by the equivalent of $0.0093 per litre, Reuters reported. This is a third of last week’s price hike, which was the first in four years, highlighting the pain that the world’s…
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