New Delhi, May 15:  Amid escalating tensions in West Asia and a sharp surge 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, adding to the burden on consumers already grappling with rising inflation.

In Delhi, petrol prices increased by Rs 3.14 per litre, taking the retail price to Rs 97.77 per litre, while diesel became costlier by Rs 3.11 per litre. OMCs 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.

The fuel price hike comes as state-run oil companies continue to face heavy financial pressure due to elevated crude oil prices in the international market. According to Sujata Sharma, Joint Secretary in the Union Petroleum Ministry, the combined under-recovery on petrol, diesel and LPG has reached nearly Rs 30,000 crore every month.

Union Petroleum Minister Hardeep Singh Puri recently warned that if crude oil prices remain above 100 dollars per barrel, the profits of OMCs for FY26 could be completely wiped out. He said oil companies are currently incurring losses of nearly Rs 1,000 crore every day due to the ongoing energy crisis triggered by the Middle East conflict.

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