Fuel prices across India remained unchanged on May 1, 2026, offering relief to consumers even as global crude oil markets continue to fluctuate geopolitical tensions in West Asia. However, commercial LPG cylinder prices have been increased, adding cost pressure on businesses and bulk users.
Oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited revise petrol and diesel prices daily at 6 AM, aligning domestic rates with global crude trends and currency movements. Despite recent volatility, authorities have indicated that retail fuel prices are likely to remain stable for now, with companies absorbing some of the cost pressures.
Petrol and Diesel Prices in Major Cities (May 1, 2026)
- New Delhi: Petrol ₹94.72 | Diesel ₹87.62
- Mumbai: Petrol ₹104.21 | Diesel ₹92.15
- Kolkata: Petrol ₹103.94 | Diesel ₹90.76
- Chennai: Petrol ₹100.75 | Diesel ₹92.34
- Bengaluru: Petrol ₹102.92 | Diesel ₹89.02
- Hyderabad: Petrol ₹107.46 | Diesel ₹95.70
- Jaipur: Petrol ₹104.72 | Diesel ₹90.21
- Lucknow: Petrol ₹94.69 | Diesel ₹87.80
- Chandigarh: Petrol ₹94.30 | Diesel ₹82.45
- Patna: Petrol ₹105.58 | Diesel ₹93.80
Why Prices Are Stable—for Now
Global crude prices have been highly volatile due to tensions involving Iran, Israel, and the United States. Concerns over disruptions in the Strait of Hormuz—a key passage for global oil shipments—have kept markets on edge.
Despite this, domestic fuel prices have stayed steady, partly due to government efforts to contain inflation and avoid burdening consumers. Oil companies are currently absorbing some of the increased costs.
LPG Prices Rise
In contrast to stable petrol and diesel rates, prices of 19-kg commercial LPG cylinders have been increased from May 1. This hike is expected to impact sectors like hospitality, food services, and small-scale industries that rely heavily on bulk fuel supplies.
Premium and Private Fuel Price Trends
Premium fuels have already seen revisions. Indian Oil recently increased the price of its XP100 petrol, commonly used in high-performance vehicles. Meanwhile, private players such as Shell India and Nayara Energy have raised fuel prices in select cities due to rising crude costs.
Will Petrol, Diesel Prices Increase?
While prices remain unchanged for now, pressure is building due to rising crude oil rates and currency fluctuations. If global prices continue to climb, companies may eventually pass on the costs to consumers.
Key Factors Affecting Fuel Prices
- Global crude oil prices
- Rupee-dollar exchange rate
- Central and state taxes
- Refining and distribution costs
- Demand and supply dynamics
For now, consumers can expect stability, but the situation remains fluid depending on global developments.