Fuel Prices in India: Latest Updates on Petrol and Diesel Rates
Petrol, Diesel price hiked today? Check latest rates in Delhi, Mumbai, Chennai, Kolkata and other cities
The Economic Times
Image: The Economic Times
India is experiencing potential increases in petrol and diesel prices due to rising global oil prices and ongoing economic pressures. As of May 7, 2026, petrol prices in Delhi are ₹94.77 per litre and diesel at ₹87.67 per litre, with Mumbai seeing even higher rates. The government has not ruled out future hikes.
- 01Petrol and diesel prices remain unchanged as of May 7, 2026.
- 02Delhi's petrol is priced at ₹94.77 per litre, while Mumbai's is ₹103.50.
- 03Government sources suggest a potential price hike is possible due to losses incurred by oil marketing companies.
- 04The Press Information Bureau has denied rumors of an immediate price increase.
- 05Commercial LPG cylinder prices have significantly increased, with Delhi rates rising to ₹3,071.50.
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As of May 7, 2026, petrol and diesel prices in India have not seen significant changes, with petrol priced at ₹94.77 per litre in Delhi and ₹103.50 in Mumbai. Despite this, government sources indicate that a price hike may be on the horizon due to ongoing losses faced by oil marketing companies, which are reportedly selling petrol at a loss of ₹14 per litre and diesel at ₹18 per litre. The Press Information Bureau has clarified that claims of a price increase are false and should be verified through official channels. Additionally, while domestic LPG prices remain stable, commercial LPG cylinder prices have surged, with a 19-kg cylinder now costing ₹3,071.50 in Delhi, reflecting a significant increase amid global oil market disruptions.
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If fuel prices increase, it could lead to higher transportation costs, affecting the prices of goods and services across the economy.
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