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Fuel prices hiked by ₹2.7, fourth increase in 10 days
25 May 2026

India's Oil Marketing Companies (OMCs) have increased the prices of petrol and diesel for the fourth time in 10 days.

The latest hike is by ₹2.61 per liter for petrol and ₹2.71 per liter for diesel, respectively.

The increase comes as a result of rising global crude oil prices and geopolitical tensions in West Asia.

Prices up by nearly ₹7.5 per liter since May 15
Price surge

The latest revision has pushed the total increase in petrol and diesel prices to nearly ₹7.5 per liter since fuel rate revisions resumed on May 15.

The new rates now stand at ₹102.12 per liter for petrol and ₹95.2 per liter for diesel in Delhi.

The hike comes after a long period of price stability, during which OMCs were reportedly losing up to ₹1,000 crore every day due to rising crude oil costs and a weakening rupee.

Geopolitical tensions in West Asia affecting fuel prices
Market impact

The recent price hikes have been attributed to prolonged geopolitical tensions in West Asia and rising global crude oil prices.

ONGC Director (Exploration) Sushma Rawat said that crude oil prices have been extremely volatile due to uncertainty over the conflict.

She also noted that India had largely shielded consumers from the full impact of rising global energy prices until now.

India relies on imports for nearly 85% of crude requirements
Economic impact

Former BPCL Marketing Director Sukhmal Kumar Jain said public sector oil companies are still facing huge under-recoveries due to rising crude prices and a weakening rupee.

He noted that crude prices have shot up from around $65-70 per barrel to $110-115 per barrel during the conflict period.

Jain also emphasized India's reliance on imports for nearly 85% of its crude requirements, which has further exacerbated the economic impact of these price hikes.