Petrol, Diesel Price Hike LIVE Updates: Fuel price hike to have some impact on inflation, say sources
Petrol, Diesel Price Hike: Industry sources said the price hike appears calibrated enough to partially ease margin pressure on oil companies without creating a major inflationary shock.
State-run oil marketing companies (OMCs) have increased petrol and diesel prices by Rs 3 per litre each. This is the first rate increase in more than four years. The price hike comes days after Union Petroleum and Natural Gas Minister Hardeep Singh Puri said the three fuel retailers were losing about Rs 1,000 crore per day, and the cumulative losses in a quarter were enough to wipe away all the profit they made in a full year.
Earlier, on March 27, the government reduced excise duty on petrol and diesel by Rs 10 per litre each to cushion consumers from rising global prices. However, private fuel retailers had already increased pump prices.
Follow this LIVE BLOG for all the latest updates on petrol, diesel price hike:
Live updates : Petrol, Diesel Price Hike LIVE Updates
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11:38 AM (IST) May 15, 2026
AAP, Congress, SAD slam Centre over fuel hike
AAP, Congress and SAD on Friday attacked the Centre over the petrol and diesel price hike, saying it will deliver a crippling blow to the common man and adversely impact farmers.
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11:28 AM (IST) May 15, 2026
Petrol, diesel price hike 'Modi's gift': Shivakumar
Terming the petrol and diesel price hike as Prime Minister Narendra Modi's "gift", Karnataka Deputy Chief Minister D K Shivakumar on Friday said the country has come to a "tragic situation."
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11:05 AM (IST) May 15, 2026
Provides limited relief to the oil marketing companies
"The modest hike in retail price of Rs. 3/litre for petrol and diesel provides limited relief to the oil marketing companies. ICRA estimates that at crude price of USD 105-110/barrel and considering past 10-year average crack spreads of auto fuels, oil marketing companies incur a loss of about Rs 500 crore daily on the sale of auto fuels and domestic LPG, even after factoring the fuel price hike. Accordingly, the oil marketing companies would need to relook at the retail prices in case elevated crude oil prices persist," said Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings. ICRA Ltd.
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10:51 AM (IST) May 15, 2026
Such moves may further accelerate the push towards EV adoption
"The Rs 3 hike in petrol and diesel prices reflects the pressure of elevated global crude oil prices and rising import costs on the government’s fiscal position. While the increase may temporarily add to inflation concerns and impact transportation and consumption costs, it also indicates the government’s focus on managing fuel subsidies and protecting forex reserves amid ongoing global uncertainty. In the longer term, such moves may further accelerate the push towards EV adoption and reduced dependence on imported fuel," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
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10:46 AM (IST) May 15, 2026
Petrol price rose to Rs 107.99 per litre in Jaipur
After state-run oil marketing companies (OMCs) increased petrol and diesel prices by Rs 3 per litre each, petrol price rose to Rs 107.99 per litre, and diesel price rose to Rs 93.26 per litre in Jaipur.
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10:40 AM (IST) May 15, 2026
Fuel price hike to have some impact on inflation
According to sources, the increase, however, will have some impact on inflation. India's retail inflation, measured by the Consumer Price Index (CPI), rose to 3.48 per cent in April 2026 from 3.40 per cent in March
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10:37 AM (IST) May 15, 2026
Price hike appears calibrated: Sources
Industry sources said the price hike appears calibrated enough to partially ease margin pressure on oil companies without creating major inflationary shock.
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10:31 AM (IST) May 15, 2026
Petrol, diesel prices in Delhi after price hike
Petrol price was hiked to Rs 97.77 per litre from Rs 94.77 in Delhi. Diesel now costs Rs 90.67 per litre in the national capital, up from Rs 87.67 previously.