THEBUSINESSBYTES
BUREAU
NEW
DELHI, MAY 19, 2026
Petrol and diesel
prices were hiked by around 90 paise per litre on Tuesday, marking the second
increase in fuel rates within a week after state-run oil marketing companies
ended a nearly four-year pause on price revisions.
With the latest
revision, petrol prices in New Delhi climbed to Rs 98.64 per litre from Rs
97.77, while diesel prices increased to Rs 91.58 from Rs 90.67, according to
industry sources.
The fresh hike comes
amid mounting pressure on public sector fuel retailers grappling with soaring
international crude oil prices. The recent surge in global oil markets,
triggered by the ongoing Iran war and geopolitical uncertainties, has
significantly escalated input costs for oil companies.
Last Friday, petrol
and diesel prices were increased by Rs 3 per litre — the first such revision in
more than four years. State-run fuel retailers had maintained stable retail
prices for months despite rising crude prices, largely during the period of key
state elections, absorbing substantial losses in the process.
Industry observers
believe the latest upward revision reflects a gradual effort by oil companies
to align domestic fuel prices with international market trends while attempting
to recover a portion of the financial losses incurred during the prolonged
freeze.
