
Petrol and diesel prices remained stable across India on May 1, 2026, despite crude oil crossing $120, while commercial LPG prices saw a sharp increase, indicating underlying pressure building in the energy market

Reviewed and Rewrite by
Rudransh Sangwan




Fuel prices in India remained unchanged on May 1, 2026, despite global crude oil trading near multi-year highs. According to Indian Oil Corporation, there has been no revision in petrol and diesel rates, reflecting continued policy intervention to shield consumers from global volatility.
| Fuel Type | Price Trend | Status |
|---|---|---|
| Petrol | Stable | No change |
| Diesel | Stable | No change |
| LPG (Commercial) | Rising sharply | Increased |
Fuel prices have remained stable even as global crude prices moved above $120 per barrel. This indicates that domestic pricing is currently influenced more by policy decisions than by international benchmarks.
Under this stability, two key factors stand out. First, the government continues to manage price volatility through indirect controls and taxation adjustments. Second, oil marketing companies are maintaining current rates to avoid immediate inflationary pressure on consumers and the broader economy.
| City | Petrol (₹/L) | Diesel (₹/L) |
|---|---|---|
| Delhi | 94.77 | 87.67 |
| Mumbai | 103.50 | 90.03 |
| Kolkata | 105.41 | 92.02 |
| Chennai | 100.80 | 92.39 |
| Bengaluru | 102.96 | 90.99 |
| Hyderabad | 107.50 | 95.70 |
| Chandigarh | 94.30 | 82.45 |
| Noida | 94.77 | 87.67 |
| Lucknow | 94.69 | 87.80 |
| Jaipur | 104.71 | 90.21 |
| Pune | 103.49 | 90.01 |
| Ahmedabad | 94.48 | 90.15 |
Fuel prices across major cities show moderate variation driven primarily by local taxation and logistics costs. Metropolitan regions such as Hyderabad and Kolkata continue to report higher prices, while Delhi and nearby regions remain relatively lower.
This variation reflects two underlying dynamics. State-level VAT policies significantly influence retail fuel prices, and transportation as well as distribution costs also contribute to minor regional differences.
| State | Petrol (₹/L) Range | Diesel (₹/L) Range |
|---|---|---|
| Delhi | 94–95 | 87–88 |
| Maharashtra | 103–105 | 90–92 |
| West Bengal | 105–106 | 91–93 |
| Tamil Nadu | 100–102 | 91–93 |
| Karnataka | 102–104 | 90–92 |
| Telangana | 106–108 | 94–96 |
| Uttar Pradesh | 94–96 | 87–89 |
| Rajasthan | 104–106 | 90–92 |
| Gujarat | 94–96 | 89–91 |
| Punjab/Haryana | 94–96 | 82–88 |
State-wise pricing differences are largely a function of tax structures rather than supply conditions. Southern and eastern states generally exhibit higher fuel costs due to relatively higher VAT components.
Two structural elements explain this pattern. Taxation remains the dominant contributor to final retail prices, and regional policy differences create consistent pricing gaps across states.
Despite crude oil prices rising sharply, domestic fuel prices have not followed the same trajectory. This divergence highlights the role of policy intervention and controlled pricing mechanisms.
Two key factors are influencing this situation. Government intervention is actively preventing immediate price pass-through to consumers, and oil marketing companies are absorbing part of the cost pressures to maintain stability in the short term.
Additionally, export duties have been revised for petroleum products, with diesel and aviation fuel attracting duties while petrol remains exempt, further shaping domestic price dynamics.
| City | New Price (₹) | Increase |
|---|---|---|
| Delhi | 3,071.5 | +993 |
| Mumbai | 3,024 | +993 |
| Kolkata | 3,202 | +994 |
| Chennai | 3,237 | +990+ |
Commercial LPG prices have seen a sharp increase, even as petrol and diesel remain stable. This divergence reflects selective price adjustments within the energy basket.
Two important implications emerge from this trend. Businesses such as restaurants and logistics operators are likely to face increased cost pressures, while household consumers remain protected as domestic LPG prices have not been revised.
Fuel prices in India are currently being guided more by policy decisions than by global crude movements. While stability provides short-term relief, underlying cost pressures continue to build due to elevated global energy prices.
If crude oil sustains current levels, two outcomes become increasingly likely. A delayed price correction in petrol and diesel may occur, and inflationary pressures could intensify across sectors dependent on fuel inputs.
No, prices remain unchanged on May 1, 2026
Hyderabad and Kolkata are among the highest
Due to government intervention and controlled pricing
Yes, commercial LPG prices have increased significantly
There is a possibility if global crude prices remain elevated