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India’s state-run fuel retailers raised petrol and diesel prices for the fourth time in May as higher global crude oil prices driven by the Iran war increased pressure on refiners and consumers
State-owned fuel retailers in India on Monday raised diesel prices by Rs 2.71 per litre and petrol prices by Rs 2.61 per litre, marking the fourth increase in fuel rates this month as companies seek to recover losses from soaring global crude oil prices amid the Iran war.
The latest hike follows earlier increases on May 15, May 19 and May 23, taking cumulative fuel price increases to nearly Rs 8 per litre in less than two weeks. Dealers said the revised rates came into effect from Monday morning across the country, though final retail prices vary by state taxes.
India, the world’s third-largest oil importer and consumer, has faced mounting pressure from elevated crude prices and supply concerns linked to tensions in West Asia. State-run retailers, which dominate India’s fuel market, have been gradually passing on higher import costs to consumers after holding prices steady for years.
This is a developing story. Please check back for updates.
First Published:
May 25, 2026, 06:58 IST
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