New Delhi, India – Fuel prices across India held steady on May 17, 2026, maintaining rates seen after a recent hike that saw petrol and diesel increase by approximately ₹3 per litre across various cities. This stability comes amid continued volatility in global crude markets, primarily driven by ongoing conflicts in West Asia and disruptions to shipping traffic in the Strait of Hormuz.
Current Fuel Prices in Major Metros
As of May 17, 2026, residents in India's major metropolitan areas are facing the following fuel costs:
- Delhi: Petrol costs ₹97.77 per litre, while diesel is priced at ₹90.67 per litre.
- Mumbai: Prices remain among the highest, with petrol at ₹106.68 per litre and diesel at ₹93.14 per litre.
- Hyderabad: Petrol prices have neared the ₹111 mark, settling at ₹110.89 per litre, with diesel at ₹98.96 per litre.
- Kolkata: Consumers are paying ₹108.70 for petrol and ₹95.13 for diesel per litre.
- Chennai: Petrol is at ₹103.67 per litre, and diesel at ₹95.25 per litre.
- Bengaluru: Petrol stands at ₹106.17 per litre, and diesel at ₹94.10 per litre.
The previous hike, which occurred on Friday (prior to May 17), saw increases ranging from ₹2.83 to ₹3.29 per litre across different cities.
Factors Influencing Fuel Costs in India
The pump price of petrol and diesel in India is a complex interplay of several factors, both international and domestic:
Global Crude Oil Prices
The international price of crude oil is the single most significant determinant. As the raw material for both petrol and diesel, fluctuations in global crude markets, such as those caused by geopolitical tensions or supply chain disruptions, directly impact domestic fuel costs.
Rupee-Dollar Exchange Rate
Given India's heavy reliance on imported crude oil, the exchange rate between the Indian Rupee and the US Dollar plays a crucial role. A weakening Rupee makes crude imports more expensive, which is then passed on to consumers.
Government Taxes and Duties
Both the central and state governments levy various taxes and duties on fuel. These taxes constitute a substantial portion of the final retail price and are a primary reason why fuel prices vary significantly from one state to another.
Transportation and Demand-Supply Dynamics
Additional factors like transportation costs from refineries to retail outlets, as well as local demand and supply conditions, also contribute to the final price consumers pay at the pump.
These combined elements ensure that fuel prices remain dynamic, constantly reacting to shifts in the global economy and domestic policy.