Petrol and diesel prices today: Fuel prices in Delhi, Mumbai, Bengaluru, Kolkata on May 18 after ₹3/litre hike | Today’s news
Petrol and diesel prices remained unchanged on Monday, May 18 after the latest revision by the Indian government. On May 15, state-owned oil marketing companies (OMCs), including Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), increased petrol and diesel rates by ₹3 per liter. The BJP-led government has also hiked prices of compressed natural gas (CNG) in cities like Delhi and Mumbai by ₹2 per kg on Friday. CNG prices witnessed the second hike in 48 hours by Re 1 per kg across Delhi-NCR on Sunday.
The recent revision of fuel rates comes at a time of war in West Asia and after almost 4 years. As the world grapples with the fuel crisis, the blockade of the Strait of Hormuz, a critical waterway in the Persian Gulf, continues. Almost one-fifth of global energy flows transit through this route. The center shielded domestic customers from global oil price volatility until May 14, even as Brent crude oil rates have soared to more than $100 a barrel in the past few months due to conflict in the West. Check the latest petrol and diesel prices for the city here:
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Gasoline prices in the city today
Diesel prices in the city today
West Asia War Peace Agreement Update
The US and Iran continue to deliberate amid a fragile truce with no clear signs of a peace deal in sight and the reopening of the Strait of Hormuz. On Sunday, US President Donald Trump said in a post on social media: “The clock is ticking for Iran and they should move, FAST, or there will be nothing left of them. TIME IS OF THE ESSENTIAL!” indicating that his patience is running out. Meanwhile, Iran’s semi-official Mehr news agency signaled that Washington had offered “no tangible concessions,” Bloomberg reported.
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Trump has continued to threaten Tehran with the possibility of a renewed bombing campaign since the April 8 ceasefire began, and is due to meet with his national security team on Tuesday to discuss the war. Amid the bearish outlook, Brent crude climbed 1.2% to around $110.60 a barrel on Monday, while Asian shares fell in early trade. Brent, the global benchmark, has risen about 50% since the start of the war.
The Delhi government has issued an advisory to save fuel
In a bid to save fuel amid global uncertainty and in line with Prime Minister Modi’s call for savings, the Delhi government on May 17 issued an advisory urging private companies and organizations to adopt a two-day work-from-home policy, make changes to office timings and encourage employees to use car sharing and public transport.
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In its recommendation, the Ministry of Labor said there is a need to conserve fuel – petrol, diesel and CNG – and ensure its optimal use, as travel to and from offices is one of the biggest contributors to daily fuel consumption in the capital.
“To contribute to the national drive towards fuel conservation, all employers of industrial establishments, factories, shops and commercial establishments in Delhi, including IT, IT Enabled Services (ITES), among others, are strongly encouraged to implement a minimum of two days of work from home per week,” the advisory said, urging Delhi residents to support fuel conservation efforts.
As well as supporting the adoption of work-from-home (WFH) measures, she also proposed the introduction of staggered working hours to reduce rush hour traffic so that workers use public transport, car pooling or non-motorized modes of commuting.
Andhra Pradesh today saw a nationwide protest against the hike in fuel prices
In protest against surge in petrol and diesel prices, the Yuvajana Sramika Rythu Congress Party (YSRCP) is holding a statewide protest on May 18 against the surge in petrol and diesel prices in Andhra Pradesh, accusing the Chandrababu Naidu government of burdening people despite its pre-election promise to reduce fuel prices.
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According to YSRCP state coordinator Sajjal Ramakrishna Reddy, Andhra Pradesh is now witnessing some of the highest fuel prices in the country. He further argued that fuel price hikes are putting inflationary pressure on basic commodity prices and exacerbating economic hardship across sectors.
