Petrol & Diesel Prices Today: Fuel prices in Delhi, Mumbai, Bengaluru, Kolkata on May 19 after 90 paise/litre hike

Petrol and diesel prices rose by as much as 90 paise per liter on Tuesday, the second hike in less than a week amid heightened global oil prices. Industry sources said petrol prices have been revised upwards ₹98.64 per liter in the state capital from ₹97.77 earlier, while diesel rates rose to ₹91.58 per liter from ₹90.67.

The last hike follows ₹The 3-litre hike was announced on Friday as state-run oil marketing companies (OMCs) continued to adjust retail fuel prices in response to rising global oil prices.

In Delhi, petrol is now sold at ₹98.64 per litre, an increase of 87 paise, while diesel price is ₹91.58 per litre, up by 91 paise. Petrol hiked by 91 Paise in Mumbai ₹107.59 per liter and diesel by 94 paise to ₹94.08 per litre.

Kolkata saw the steepest rise in petrol prices at 96 paise, with rates increasing to ₹109.70 per litre, while diesel prices rose by 94 paise to ₹96.07 per litre. In Chennai, petrol prices increased by 82 paise to ₹104.49 per litre, while diesel rose by 86 paise to ₹96.11 per litre.

₹3 per liter went up last week

The latest revision comes days after public sector fuel retailers hiked petrol and diesel prices ₹3 per liter on May 15, the first major hike in fuel prices in over four years. According to Reuters, the increase was aimed at partially offsetting losses suffered by retailers due to a sharp rise in global oil prices.

Before last week’s revision, petrol in Delhi was selling at ₹94.77 per liter while the price of diesel was ₹87.67 per litre. A similar increase was seen in Mumbai, Kolkata and Chennai.

The recent increase in fuel prices has been largely linked to volatility in oil markets amid geopolitical tensions in West Asia. Reuters reported on Tuesday that Brent crude fell 2.4% to $109.43 a barrel after US President Donald Trump suspended a planned military strike against Iran, easing fears of an immediate escalation in the region.

However, oil prices remain significantly higher than at the beginning of this year. Reuters earlier reported that Brent crude climbed to two-week highs on fears of supply disruptions related to the Iran conflict and uncertainty over shipping movements through the Strait of Hormuz.

A Reuters report published on May 15 said Indian fuel retailers raised petrol and diesel prices as existing retail rates were not enough to cover losses caused by higher crude procurement costs. The report added that ₹The increase of 3 per liter was still less than the increase required for OMCs to fully cover the loss of fuel sales.

Previous reports from LiveMint have indicated the possibility of further increases in fuel prices if oil prices remain elevated for an extended period of time. Citing brokerage firm Emkay Global Financial Services, Mint had earlier said petrol and diesel prices could rise further ₹18-20 per liter over the next three to six months if oil prices remain high.