Petrol, diesel prices today: Fuel rates in Delhi, Mumbai, Bengaluru, Kolkata on 18 May after ₹3/litre hike

Petrol and diesel prices remained unchanged on Monday, 18 May, after latest revision by the Indian government. On 15 May, state-owned oil marketing companies (OMCs), including Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), increased petrol and diesel rates by ₹3 per litre. BJP-led government also increased Compressed Natural Gas (CNG) prices in cities like Delhi and Mumbai by ₹2 per kg on Friday. CNG prices witnessed second price hike in 48 hours by Re 1 per kg across Delhi-NCR on Sunday.

The recent revision in fuel rates comes on the heels of West Asia war and nearly after 4-year period. As the world grapples with fuel crisis, the blockade of Strait of Hormuz, critical waterway located in the Gulf Strait, continues. Transit of nearly one-fifth of global energy flows takes place through this route. The Centre shielded domestic customers from global volatility of oil prices till 14 May even though brent crude oil rates spiked to over $100 per barrel in the last few months due to the West conflict. Check latest city-wise petrol and diesel prices here:

City-wise petrol prices today

City-wise diesel prices today

Update on West Asia war peace deal

The US and Iran continue to deliberate amid the fragile ceasefire with no clear sign of peace deal in near sight and reopening of Strait of Hormuz. On Sunday, US President Donald Trump in a social media post said, “For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them. TIME IS OF THE ESSENCE!” suggesting that his patience is wearing thin. Meanwhile, Iran’s semi-official Mehr news agency signalled that Washington offered “no tangible concessions,” Bloomberg reported.

Trump continues to threaten Tehran with possibility of resumption on bombing campaign since the ceasefire began on 8 April and is scheduled to meet with his national security team on Tuesday to discuss the war. Amid bearish outlook, Brent crude oil climbed 1.2% to around $110.60 a barrel on Monday while Asian shares fell in early trading. Brent, the global benchmark, surged about 50% since the start of the war.

Delhi government issues advisory to conserve fuel

To conserve fuel amid global uncertainties and align with PM Modi's austerity appeal, the Delhi government on 17 May issued an advisory, urging private companies and organisations to adopt a two-day work-from-home policy, make changes to office timings, and urge employees to avail car-pooling and public transport.

The labour department in its advisory said that it is imperative to conserve fuel – petrol, diesel and CNG – and ensure its optimal use since travel to and from offices is one of the largest contributors to daily vehicular fuel consumption in the capital.

"In order to contribute to national fuel conservation efforts, all employers of industrial establishments, factories, shops and commercial establishments in Delhi, including IT, IT Enabled Services (ITES), among others are strongly encouraged to implement a minimum of two days of work-from-home per week," the advisory said, urging Delhiites to support the fuel-saving efforts.

Besides encouraging adoption of work-from-home (WFH) arrangements, it also suggested implementation of staggered working hours to reduce peak-hour vehicular load on roads, encourage employees to use public transport, car-pooling, or non-motorised modes of commute.

Andhra Pradesh to see statewide protest today over fuel price hike

To protest against the steep hike in petrol and diesel prices, Yuvajana Sramika Rythu Congress Party (YSRCP) is organising a statewide protest on 18 May 18 against the steep hike in petrol and diesel prices in Andhra Pradesh, accusing the Chandrababu Naidu government of burdening people despite promising fuel price relief before elections.

According to YSRCP State Coordinator Sajjala Ramakrishna Reddy, Andhra Pradesh is now witnessing some of the highest fuel prices in the country. He further alleged that fuel price hike is putting inflationary pressure on essential commodity prices and worsening economic distress across sectors.