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Describing the latest increase in petrol and diesel prices as an adjustment necessitated by the sharp surge in global crude oil prices, Minister for Civil Supplies and Consumer Affairs Nadendla Manohar on Monday (May 25, 2026) said it had been ensured that the hikes were calibrated to minimise the impact on consumers.
The rise in crude oil prices was due to the ongoing geopolitical tensions in West Asia, particularly concerns over the Strait of Hormuz triggered by the Iran War, he told The Hindu, noting that India imported a large part of its crude, and hence the direct impact.
The Minister said the fuel price hikes by public sector oil marketing companies (HPCL, BPCL and IOCL) were modest and phased, and came after the companies absorbed significant under-recoveries for a long time. This was the first major revision in several years, he added.
Fourth hike in 10 days
Petrol and diesel prices were raised for the fourth time in 10 days on Monday, saw the steepest round yet at ₹2.7 to ₹2.8 a litre across the country. The four increases since May 15 have together added about ₹7.5 a litre, the first round ₹3 a litre and the next two 90 paise each.
The increases came after the oil marketing companies held prices steady for about three months. India’s crude oil basket averaged $107.96 a barrel this month until May 22, though Brent crude futures fell about 4.8% on Monday to $98.59 a barrel amid signs of a peace deal between Iran and the U.S.
No Delhi or city figures, just the national picture. One flag: the Brent fall and the Iran-U.S. peace-deal cue can move fast, check both still hold at publication.
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