India revised petrol and diesel prices on May 15, 2026 — the first major fuel price hike since April 2022 — with OMCs increasing rates by ₹2.80 to ₹3.60 per litre depending on city and fuel type. The hike, driven by the sustained West Asia crisis, Strait of Hormuz disruption, and Brent crude near $107 per barrel, marks the end of a four-year price freeze during which state-run oil marketing companies accumulated losses exceeding ₹1 lakh crore over the past ten weeks alone. Prices vary across cities due to differences in state VAT rates, freight charges, and local levies.
Petrol prices across major cities on May 15, 2026
In the north, New Delhi now sees petrol at ₹97.77 per litre, up ₹3.00. Noida is at ₹98.04, up ₹3.30, while Gurgaon stands at ₹98.29, up ₹2.99. Chandigarh, which benefits from lower state taxes, is at ₹97.27, up ₹2.97. Lucknow comes in at ₹97.58, up ₹2.85.
In the east, Kolkata stands at ₹108.74, up ₹3.29 — one of the steepest increases among major metros. Patna is at ₹108.55, up ₹3.01. Bhubaneswar sees petrol at ₹104.57, up ₹3.60 — the highest absolute hike among the cities listed.
In the west, Mumbai is at ₹106.64–106.68 per litre, up ₹3.10–3.14. Jaipur has seen a sharp revision to ₹108.19, up ₹3.16.
In the south, Hyderabad tops the list at ₹110.89, up ₹3.39. Thiruvananthapuram is close behind at ₹110.75, up ₹3.37. Chennai is at ₹103.90, up ₹3.10, while Bengaluru stands at ₹106.17, up ₹3.21.
Diesel prices across major cities on May 15, 2026
Chandigarh remains the most affordable at ₹85.25, up ₹2.80 — the lowest diesel price and lowest absolute hike among all cities listed. New Delhi is at ₹90.67, up ₹3.00, with Gurgaon close at ₹90.77 and Lucknow at ₹90.87. Noida sees diesel at ₹91.31, up ₹3.50.
Mumbai’s diesel stands at ₹93.14, up ₹3.11. Jaipur is at ₹93.43, up ₹2.94. Bengaluru is at ₹94.10, up ₹3.11. Patna is at ₹94.63, up ₹2.85. Kolkata sees diesel at ₹95.13, up ₹3.11. Chennai’s diesel ranges ₹95.25–95.47, up ₹2.86–3.08 depending on location. Bhubaneswar is at ₹96.11, up ₹3.56.
Hyderabad again tops the list with diesel at ₹98.96, up ₹3.26. Thiruvananthapuram is at ₹99.63, up ₹3.37 — the highest diesel price across all major cities.
What this means
Chandigarh and Delhi-NCR remain the most affordable fuel markets among major cities owing to lower state VAT structures, while Hyderabad, Thiruvananthapuram, Kolkata, and Patna sit at the expensive end of the spectrum. The range between cheapest and most expensive petrol — ₹97.27 in Chandigarh versus ₹110.89 in Hyderabad — is ₹13.62 per litre, entirely a function of differential state taxation rather than central duty or crude cost.
Industry estimates suggest OMCs need a hike of ₹10 per litre on petrol and ₹15 per litre on diesel to fully break even at current crude levels. The May 15 revision, while historically significant as the first in four years, covers less than a third of the required correction. Further hikes remain on the table unless a credible de-escalation of the West Asia conflict drives a sustained fall in Brent crude below $90 per barrel.
For city-specific real-time rates, consumers can check iocl.com, Bharat Petroleum’s official portal, or the Hindustan Petroleum website, where daily price notifications are published at 6:00 AM each morning.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.