Pune, 15th May 2026: Today Punekars woke up to a sharp increase in fuel prices as petrol and diesel rates were revised upwards amid the worsening crisis in West Asia. Petrol in Pune is now priced at Rs 107.01 per litre after an increase of Rs 3.14, while diesel has climbed by Rs 3.11 to Rs 93.51 per litre.
The rise in fuel prices comes days after Prime Minister Narendra Modi appealed to citizens to reduce petrol and diesel consumption and make greater use of public transport.
The increase has been triggered by rising global crude oil prices due to the prolonged US-Iran conflict and disruption in the Strait of Hormuz, a critical route for global oil transportation. The crisis has affected international oil and gas supplies, increasing import costs for India.
State-run oil companies including Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited had reportedly been purchasing crude oil at elevated prices for several months without fully passing the burden on to consumers.
Reports suggest oil-marketing companies were collectively bearing losses of nearly Rs 1,600 crore per day due to the spike in crude oil prices. The Centre had earlier avoided increasing fuel rates to keep inflation under control, but continued geopolitical instability has now led to a revision in retail prices.
The increase is expected to affect several sectors, including transport, logistics and small businesses. Autorickshaw drivers, cab operators and delivery services are likely to face higher operating costs, while transporters may increase freight charges in the coming weeks.
Experts fear the rise in diesel prices could also impact prices of vegetables, groceries and essential goods transported into the city. Fuel prices had remained largely unchanged since April 2022, except for a Rs 2 per litre reduction announced in March 2024 ahead of the Lok Sabha elections.
