Petrol, diesel, CNG, LPG get costlier: How much more Indians are paying amid West Asia conflict – City-wise rates here
In May, Indian consumers experienced a significant rise in fuel prices, with petrol and diesel increasing by ₹3 per litre, the first hike in four years. CNG prices also rose by ₹2 per kg, reflecting the impact of escalating global crude prices due to the West Asia conflict.
In a direct fallout of the escalating West Asia conflict, Indian consumers faced a sharp rise in fuel prices in May, feeling the impact across multiple fronts. Petrol and diesel prices were hiked by ₹3 per litre — the first increase in four years — while CNG rates went up by ₹2. Earlier this month, oil companies had also raised prices of commercial LPG cylinders, bulk diesel and aviation turbine fuel (ATF). Here’s a look at how much prices have increased for each of them:
Petrol price hike
Petrol and diesel prices were hiked by ₹3 per litre each on Friday, the first rate increase in more than four years, amid mounting losses of fuel retailers due to surging global crude prices.
One of the key reasons behind the hike is the sharp rise in global energy prices following the outbreak of the conflict in West Asia.
Quick answers to key questions
Petrol and diesel prices have been hiked by ₹3 per litre due to a sharp rise in global energy prices following the conflict in West Asia. State-run oil companies passed on part of the burden after operations became financially unviable due to mounting losses.
CNG prices have been increased by ₹2 per kg. In Delhi, the rate went from ₹77.09 to ₹79.09 per kg, and in Mumbai, it now costs ₹84 per kg.
The direct impact on consumer price inflation is estimated to be around 0.15%, but the indirect impact through increased transportation and food prices could be larger and emerge over the next couple of months.
Sectors like agriculture, food, FMCG, steel, e-commerce, and tourism are likely to face the most immediate impact due to rising operating expenses from higher fuel and transportation costs.
State-run fuel retailers stopped daily price revisions in April 2022 to shield consumers from soaring global oil prices after Russia's invasion of Ukraine. They incurred losses but later recouped them when rates fell.
India was among the last major economies to raise retail fuel prices. State-run oil companies held rates steady for 11 weeks despite rising input costs. Sources told PTI they eventually passed on part of the burden after operations became financially unviable.
Here's the latest petrol, diesel rates in your city
- Petrol price was hiked to ₹97.77 per litre from ₹94.77 in Delhi. Diesel now costs ₹90.67 as against ₹87.67 per litre previously
- Petrol in Mumbai now costs ₹106.68 a litre and diesel comes for ₹93.14 per litre.
- In Kolkata, petrol now costs ₹108.74 per litre and diesel ₹95.13
- In Chennai, prices increased to ₹103.67 for petrol and ₹95.25 for diesel.
- In Hyderabad, you pay ₹110.89 for petrol and ₹98.96 for diesel.
CNG price hike
Compressed Natural Gas (CNG) prices have been increased by ₹2 per kg, taking rate in Delhi from ₹77.09 to ₹79.09 per kg.
The revised rates came into effect immediately across the country.
Commercial LPG price hike
On May 1, state-owned oil marketing companies increased the price of 19-kg commercial Liquefied Petroleum Gas (LPG) cylinders by ₹993. In Delhi, a 19-kg cylinder now costs ₹3,071.50.
Commercial LPG prices have been raised twice in recent months. It was first increased by ₹144 in March and nearly ₹200 on 1 April.
New commercial LPG rates in Indian cities
Here are the latest rates of a 19-kg commercial in major cities of the country on Friday after the hike:
- Mumbai: ₹3,024
- Bengaluru: ₹3,152
- New Delhi: ₹3,071.50
- Ahmedabad: ₹3,091
- Kolkata: ₹3,202
- Chennai: ₹3,237
- Pune: ₹3,084
The government, however, kept the price of 14.2-kg domestic LPG cylinders unchanged, insulating households from recent volatility in international fuel prices. Oil companies typically review and revise LPG prices at the start of each month.
Bulk diesel and jet fuel prices raised
Indian Oil Corp Ltd. announced that bulk diesel and aviation turbine fuel (ATF), or jet fuel used for international airline operations, have also been raised. The statement and the company website, however, did not specify the revised rates.
The Indian Oil statement said: "Price revisions have been limited to select industrial segments, which constitute a relatively small share of overall consumption and are subject to routine monthly adjustments based on prevailing international prices."
About the Author
Sanchari Ghosh is an Assistant Editor at Mint with over 12 years of experience in journalism, specialising in personal finance, DLT & DeFi, geopolitics and foreign policy, with a particular emphasis on how these areas intersect. <br> She writes extensively about how money works in everyday life—helping readers navigate personal finance decisions. <br> As AI reshapes investing behaviour, capital is increasingly flowing into decentralized ecosystems, redefining how assets are managed, traded, and valued. She focuses on explaining how money flows within frameworks like Distributed Ledger Technology (DLT), DeFi protocols, and crypto markets—while also exploring what the future of money could look like in a trustless, programmable financial world. <br> She also focuses on immigration-related issues, simplifying complex topics around visas, passports, overseas financial planning, and the many practical challenges Indians face while moving or living abroad. <br> Alongside personal finance, Sanchari has a strong understanding of international politics, contemporary and historical conflicts, and global state decisions. She closely tracks how geopolitical developments influence economies, markets, and individual financial choices, bringing together finance and global affairs in her reporting. <br> She began her career as a desk editor, which gave her a strong foundation in news writing. Over time, her interest naturally shifted toward personal finance. Before joining Mint in 2020, she worked DNA, The Times of India, Outlook Money, BloombergQuint, and ETMoney. At Mint, she got an opportunity to expand her coverage to include immigration and geopolitical developments while continuing to closely follow personal finance trends and market movements.As a journalist, she is committed to accuracy, intellectual rigour, and fairness. <br> She is an English Major and her work took her across cities including Delhi, Mumbai, and Pune. Living independently from an early age gave her firsthand experience in managing life and money on her own. This practical exposure sparked her strong interest in personal finance. <br> Outside the newsroom, Sanchari is a sports enthusiast who regularly plays lawn tennis and squash. In her younger years, she was also a national-level badminton player.
Catch all the Instant Personal Loan, Business Loan, Business News, Money news, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Wait for it…
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.