Petrol and diesel prices remained elevated across major Indian cities on Tuesday, May 27, after state-owned oil marketing companies implemented another round of fuel price hikes earlier this week amid rising global crude oil prices and continued geopolitical tensions in West Asia.
The latest revision marked the fourth increase in fuel prices in less than two weeks, pushing petrol prices above the Rs 100-per-litre mark in several cities including Delhi, Mumbai, Bengaluru and Hyderabad.
Brent crude continued to trade near multi-month highs as markets tracked concerns over potential supply disruptions in key oil-producing regions. Global brokerages including Goldman Sachs and JP Morgan have warned that crude oil prices may remain volatile if geopolitical tensions persist.
Latest petrol prices in major cities on May 27
| City | Petrol Price | Change |
|---|---|---|
| New Delhi | Rs 102.12 | 0.00 |
| Kolkata | Rs 113.27 | 0.00 |
| Mumbai | Rs 111.21 | 0.00 |
| Chennai | Rs 108.20 | +0.33 |
| Gurugram | Rs 102.77 | +0.18 |
| Noida | Rs 101.89 | -0.04 |
| Bengaluru | Rs 110.89 | -0.04 |
| Bhubaneswar | Rs 108.83 | -0.06 |
| Chandigarh | Rs 101.54 | 0.00 |
| Hyderabad | Rs 115.73 | 0.00 |
| Jaipur | Rs 112.52 | -0.14 |
| Lucknow | Rs 102.04 | +0.18 |
| Patna | Rs 113.65 | +0.30 |
| Thiruvananthapuram | Rs 115.49 | 0.00 |
Latest diesel prices in major cities on May 27
| City | Diesel Price | Change |
|---|---|---|
| New Delhi | Rs 95.20 | 0.00 |
| Kolkata | Rs 99.82 | 0.00 |
| Mumbai | Rs 97.83 | 0.00 |
| Chennai | Rs 99.98 | +0.32 |
| Gurugram | Rs 95.44 | +0.17 |
| Noida | Rs 95.37 | -0.48 |
| Bengaluru | Rs 98.80 | 0.00 |
| Bhubaneswar | Rs 100.55 | -0.05 |
| Chandigarh | Rs 86.47 | 0.00 |
| Hyderabad | Rs 103.82 | 0.00 |
| Jaipur | Rs 97.65 | -0.10 |
| Lucknow | Rs 95.53 | +0.17 |
| Patna | Rs 99.65 | +0.29 |
| Thiruvananthapuram | Rs 104.41 | 0.00 |
Fuel prices vary across states due to differences in VAT rates, dealer commissions and freight charges. Hyderabad continued to remain among the costliest metro cities for fuel, while prices in Jaipur, Chennai and Bengaluru also stayed elevated.
Higher fuel prices may pressure household budgets
Economists have warned that sustained fuel inflation could increase transportation and logistics costs, eventually feeding into broader consumer inflation.
According to economists quoted by LiveMint, higher diesel prices may particularly impact freight movement, agriculture and supply chains because diesel remains a key transportation fuel across sectors.
Industry executives have also indicated that logistics operators, trucking companies and app-based delivery platforms could face margin pressure if diesel prices continue to rise, potentially leading to higher freight charges.
Meanwhile, fuel stations in parts of Maharashtra witnessed a surge in demand following the latest price hikes. Reports indicated that petrol sales in Nagpur rose 16% while diesel sales increased 19%, leading to long queues at fuel pumps before state officials clarified that fuel supplies remained adequate.
The latest increase in fuel prices comes at a time when households are already dealing with elevated food prices and higher living costs, adding further pressure on monthly budgets for commuters and businesses dependent on transportation.