Petrol, diesel prices today, May 15: Prices rise in major metros; Check new prices in Delhi, Mumbai, Kolkata and more

Fuel prices across India held were hiked by Rs 3 per litre across various cities on May 15, as global crude markets remain on edge amid tensions in West Asia and disruptions to key shipping routes. This now ends a period of relative stability that had kept retail fuel prices largely insulated from global volatility,

In Delhi, petrol moved from Rs 94.77 to Rs 97.77 per litre. Diesel rose from Rs 87.67 to Rs 90.67. Across other metros, the increases ranged between Rs 2.83 and Rs 3.29 per litre, with petrol now priced at Rs 108.74 in Kolkata, Rs 106.68 in Mumbai and Rs 103.67 in Chennai.

Diesel, too, climbed sharply. Kolkata now stands at Rs 95.13 per litre, Mumbai at Rs 93.14 and Chennai at Rs 95.25.

Check latest petrol rates here

Fuel prices in key cities (May 15)

City	Petrol (₹/litre)	Diesel (₹/litre)
Delhi	97.77	90.67
Hyderabad	110.89	98.96
Kolkata	108.70	95.13
Mumbai	106.68	93.14
Bengaluru	106.21	94.10
Chennai	103.67	95.25

Check latest diesel rates here

The revision did not catch everyone off guard. Even before the official announcement, reports of a possible steep hike had already sent consumers rushing to petrol stations across the country. Long queues formed at outlets, and "No Fuel" boards went up at several pumps as stations struggled to keep up with the sudden surge in demand. Many consumers opted for full-tank refills, fearing prices could climb further, with speculation circulating that rates might rise by anywhere between Rs 5 and Rs 20 per litre from May 15.

What drives petrol and diesel prices in India?

A combination of global, economic, and domestic factors shapes fuel prices at the pump. At the heart of it is the international price of crude oil, the base raw material for both petrol and diesel, which has the single biggest bearing on what consumers ultimately pay.

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The rupee-dollar exchange rate is another key variable, given that India relies heavily on imported crude. When the rupee weakens against the dollar, the cost of procuring crude rises, which can feed directly into higher retail fuel prices.

Why do prices differ across different cities?

On top of that, taxes levied by both the central and state governments make up a substantial portion of the final price, which is why petrol and diesel rates differ across states. Transportation costs and prevailing demand-supply conditions also factor into the retail price consumers see at the pump.