New Delhi, May 15: Amid escalating tensions in West Asia and a sharp rise in global crude oil prices, oil marketing companies (OMCs) on Friday increased petrol and diesel prices by around Rs 3 per litre across the country. The revised fuel prices came into effect immediately, triggering concerns among consumers over rising transportation and daily living costs.
In Delhi, petrol prices increased by Rs 3.14 per litre, taking the retail rate to Rs 97.77 per litre, while diesel prices rose by Rs 3.11 per litre. Oil companies have also raised the price of compressed natural gas (CNG) by Rs 2 per kilogram. Following the revision, CNG in Delhi now costs Rs 79.09 per kilogram.
According to Sujata Sharma, Joint Secretary in the Union Petroleum Ministry, state-run OMCs are facing massive financial stress as they continue selling fuel at controlled rates despite soaring crude oil prices in the international market. She said the combined under-recovery on petrol, diesel and LPG has reached nearly Rs 30,000 crore every month.
Union Petroleum Minister Hardeep Singh Puri warned that if crude oil prices remain above 100 dollars per barrel, the profits of OMCs for FY26 could be wiped out entirely. Speaking at the CII Annual Business Summit 2026, he said oil companies are currently losing nearly Rs 1,000 crore every day due to the ongoing energy crisis linked to the Middle East conflict and fears of prolonged supply disruptions caused by the US-Iran tensions.
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