Fuel prices for petrol and diesel remained unchanged across India's major cities on May 31, 2026. This stability follows a period of volatility, with rates having increased four times in the preceding two weeks, impacting consumers nationwide.
The cumulative effect of these recent adjustments saw petrol prices rise by ₹2.61 per litre and diesel by ₹2.71 per litre. Global crude oil markets continue to experience tension due to geopolitical factors in West Asia and disruptions to critical shipping routes, contributing to the elevated domestic fuel costs.
Current Prices in Major Cities
As of May 31, 2026, fuel prices in key Indian metropolitan areas are:
- Delhi: Petrol ₹102.12 per litre, Diesel ₹95.20 per litre.
- Mumbai: Petrol ₹111.18 per litre, Diesel ₹97.83 per litre.
- Kolkata: Petrol ₹113.47 per litre, Diesel ₹99.82 per litre.
- Chennai: Petrol ₹107.85 per litre, Diesel ₹99.66 per litre.
- Hyderabad: Petrol ₹115.69 per litre, Diesel ₹103.82 per litre.
- Bengaluru: Petrol ₹110.93 per litre, Diesel ₹98.80 per litre.
In several cities, including Bengaluru, Hyderabad, and Kolkata, petrol continues to retail above the ₹100 per litre mark, while diesel generally remains below this threshold in most locations.
Factors Influencing Fuel Costs in India
Retail fuel prices at the pump are determined by a complex interplay of international, economic, and domestic elements. The most significant factor is the global price of crude oil, which serves as the fundamental raw material for both petrol and diesel.
Another crucial variable is the Rupee-Dollar exchange rate. Given India's substantial reliance on crude oil imports, a weakening Rupee against the US Dollar directly increases the cost of procurement, which can then be passed on to consumers. Furthermore, taxes imposed by both central and state governments constitute a substantial portion of the final retail price, explaining the variations in petrol and diesel rates across different states. Transportation costs and local demand-supply dynamics also play a role in shaping the final prices consumers pay.