Petrol and Diesel Price Update: On Friday, petrol and diesel prices saw an increase of Rs 3 per liter. This marks the first price hike of 2022 by state-owned oil companies. However, as of today, prices remain steady at the levels set yesterday. In Delhi, the national capital, petrol is priced at Rs 97.77 per liter following the Rs 3 increase, while diesel is now at Rs 90.67 per liter, up from Rs 87.67 per liter.
What are the petrol and diesel prices from Mumbai to Chennai?
In Kolkata, petrol is currently priced at Rs 108.70 per liter, and diesel at Rs 95.13 after the Rs 3 increase. In Mumbai, the financial hub, diesel is available for Rs 93.14 and petrol for Rs 106.68. Meanwhile, in Chennai, state-owned oil companies are offering petrol at Rs 103.67 and diesel at Rs 95.25. New petrol and diesel rates are released daily by oil companies at 6 am.
What prompted the increase in petrol and diesel prices?
The Strait of Hormuz is nearly shut down due to the ongoing Iran-US conflict. This route is crucial as it carries 20 percent of the world’s crude oil supply. The current circumstances have disrupted crude oil supplies, pushing prices above $100 per barrel. Prior to the conflict, crude oil prices were around $70 per barrel. This significant surge in crude oil prices has resulted in substantial losses for oil marketing companies, leading to widespread anticipation of a price hike.
Petrol and Diesel Price History
Nonetheless, this isn’t the first instance of significant increases in petrol and diesel prices. Over the last 12 years, starting from 2014, there have been multiple spikes in these prices. Let’s examine the graph.
Take a look at how the prices of petrol and diesel have fluctuated year by year
2014- Petrol 71 rupees 41 paise, Diesel 55 rupees 49 paise
2015- Petrol 66 rupees 29 paise, Diesel 52 rupees 28 paise
2016- Petrol 63 rupees 02 paise, Diesel 46 rupees 43 paise
2017- Petrol 68 rupees 09 paise, Diesel 57 rupees 35 paise
2018- Petrol 74 rupees 63 paise, Diesel 65 rupees 93 paise
2019- Petrol 73 rupees 13 paise, Diesel 66 rupees 71 paise
2020- Petrol 69 rupees 59 paise, Diesel 62 rupees 29 paise
2021- Petrol 90 rupees 40 paise, Diesel 80 rupees 73 paise
2022- Petrol 96 rupees 72 paise, Diesel 89 rupees 62 paise
2026- Petrol 97 rupees 77 paise, Diesel 90 rupees 67 paise
It’s important to highlight that petrol and diesel prices saw an increase five years after 2022, specifically on May 15, 2026. Back in 2014, petrol was priced around Rs 70-75 per liter in various cities nationwide, and by 2021-22, it had exceeded Rs 100. The price surge in 2026 has raised concerns among the general public.
Additionally, it’s significant to mention that after 2020, petrol prices surged dramatically due to the COVID-19 pandemic and the resulting global supply crisis. In 2021, petrol prices crossed the Rs 100 per liter mark for the first time in numerous cities. This was also the time when there was a sharp rise in both petrol and diesel prices. Subsequently, in May 2026, petrol and diesel prices were raised by as much as Rs 3 per liter in several cities.