Petrol and diesel prices across major Indian cities remained stable on May 27, 2026, following a series of significant hikes implemented earlier in the week. The stability offers a brief reprieve to consumers who have seen fuel costs rise consistently over the past fortnight, driven by persistent volatility in international crude oil markets.
The latest update comes after prices were raised on Monday, marking the fourth such increase within two weeks. These adjustments have seen petrol prices climb by ₹2.61 per litre and diesel by ₹2.71 per litre cumulatively, as oil marketing companies work to offset losses incurred while global crude oil hovered above the $100 per barrel mark.
Current Fuel Prices in Key Indian Cities (May 27, 2026)
- New Delhi: Petrol ₹102.12 per litre, Diesel ₹95.20 per litre.
- Mumbai: Petrol ₹111.21 per litre (crossing the ₹110 mark), Diesel ₹97.83 per litre.
- Hyderabad: Petrol ₹115.73 per litre, Diesel ₹103.82 per litre.
- Kolkata: Petrol ₹113.47 per litre, Diesel ₹99.82 per litre.
Factors Influencing Fuel Costs
Several global and domestic factors contribute to the final retail price of petrol and diesel in India:
- International Crude Oil Prices: As India imports a significant portion of its crude oil, global crude benchmarks have the most substantial impact. Recent geopolitical tensions, particularly the ongoing US-Iran conflict and the closure of the Strait of Hormuz, have kept crude prices elevated and highly volatile.
- Rupee-Dollar Exchange Rate: Fluctuations in the exchange rate directly affect the cost of crude oil imports. A weaker rupee makes imports more expensive, pushing up domestic fuel prices.
- Central and State Taxes: Both central and state governments levy various taxes (excise duty, VAT) on fuel, which constitute a considerable portion of the pump price. These taxes vary by state, leading to price differences across cities.
- Transportation Costs: The cost of transporting refined fuel from refineries to distribution points also adds to the retail price.
- Demand-Supply Dynamics: Local demand and supply conditions can also play a role in minor price adjustments.
Consumers are advised to check daily updates for the most current fuel prices in their respective cities.