BackECONOMY
Petrol and diesel prices rise by ₹3 per litre days after Modi's save-fuel call
State-run oil marketing companies hiked petrol and diesel prices by ₹3 per litre on May 15, 2026. Delhi saw petrol rise to ₹97.77 and diesel to ₹90.67 per litre, with similar increases reported in Kolkata, Mumbai, and Chennai. The move follows Prime Minister Modi’s appeals for austerity to conserve foreign exchange and reduce imports.
Why It Matters
The price rise comes in the context of a high-level push to curb imports and conserve foreign exchange, highlighting how policy signals can influence fuel pricing in India.
Timeline
4 Events
Petrol and diesel prices rise by ₹3 per litre across major cities
May 15, 2026
State-run oil marketing companies increased petrol and diesel prices by ₹3 per litre each. Delhi petrol rose from ₹94.77 to ₹97.77 per litre and diesel from ₹87.67 to ₹90.67. Kolkata petrol rose to ₹108.74 per litre (up ₹3.29) and diesel to ₹95.13 per litre (up ₹3.11). Mumbai petrol rose to ₹106.68 per litre (up ₹3.14) and diesel to ₹93.14 (up ₹3.11). Chennai petrol increased to ₹103.67 per litre (up ₹2.83) and diesel to ₹95.25 (up ₹2.86).
Union minister hints at possible price revision at CII event
May 12, 2026
Union petroleum minister Hardeep Singh Puri indicated that a price revision was likely, stating at a Confederation of Indian Industry event that the government would eventually have to take a call on increasing petroleum product prices.
PM Modi reiterates save-fuel appeal
May 11, 2026
Modi reiterated the call to conserve energy and foreign exchange following his Sunday appeal.
PM Modi calls for austerity to save foreign exchange and energy
May 10, 2026
Prime Minister Narendra Modi appealed to citizens to adopt austerity measures to conserve foreign exchange by reducing imports of crude oil and precious metals.