Fuel prices across major Indian cities remained unchanged on May 18, 2026, after experiencing a significant hike of approximately ₹3 per litre on Friday. This stability follows a period of volatile global crude oil markets, influenced by ongoing geopolitical tensions in West Asia and disruptions to shipping traffic through the critical Strait of Hormuz.
Metro City Fuel Prices Today, May 18
Residents in Delhi saw petrol priced at ₹97.77 per litre and diesel at ₹90.67 per litre. Mumbai continues to record some of the highest fuel costs, with petrol selling for ₹106.68 per litre and diesel at ₹93.14 per litre. Hyderabad's petrol prices are nearing the ₹111 mark, currently at ₹110.89 per litre, while diesel stands at ₹98.96 per litre.
Here’s a breakdown of fuel prices in other key metropolitan areas:
- Kolkata: Petrol ₹108.70 per litre, Diesel ₹95.13 per litre
- Bengaluru: Petrol ₹106.17 per litre, Diesel ₹94.10 per litre
- Chennai: Petrol ₹103.67 per litre, Diesel ₹95.25 per litre
Understanding Fuel Price Dynamics in India
The retail price of petrol and diesel in India is determined by a complex interplay of global and domestic factors. The most significant component is the international price of crude oil, which serves as the primary raw material for both fuels. Fluctuations in global crude markets directly impact what consumers pay at the pump.
Another crucial variable is the rupee-dollar exchange rate. As India heavily relies on imported crude, a weaker rupee against the US dollar increases the cost of procurement, which is then passed on to consumers. Furthermore, both central and state governments levy various taxes, including excise duty and Value Added Tax (VAT). These taxes constitute a substantial portion of the final retail price and are the primary reason for price disparities across different states.
Beyond these, transportation costs from refineries to distribution points and local demand-supply conditions also contribute to the final price structure seen by consumers.