Petrol and diesel prices in India remained unchanged on Saturday, May 30, bringing temporary relief to consumers after multiple recent hikes. However, fuel rates are still at elevated levels following a series of increases over the past two weeks driven by rising global crude oil prices.
The latest petrol and diesel price hike came on May 25, when rates were increased by over Rs 2.50 per litre, continuing a trend of sharp revisions linked to international market pressure.
Fuel prices stable on May 30 after multiple hikes
On May 30, petrol and diesel prices stayed steady across major Indian cities including Delhi, Mumbai, Bengaluru, Kolkata and others.
This pause comes after four consecutive hikes in less than two weeks, which pushed overall fuel prices up by nearly Rs 7.50 per litre since May 15.
According to oil market updates, petrol and diesel prices in India have now reached their highest levels since May 2022, ending a long phase of price stability.
Why petrol and diesel prices increased in India
The recent surge in petrol and diesel prices is mainly linked to global crude oil disruptions caused by geopolitical tensions in West Asia, particularly the Iran conflict.
Key factors impacting fuel price hikes in India:
- Rising global crude oil prices
- Supply disruptions from Gulf regions
- Higher import costs for crude oil and gas
- Increased demand in domestic fuel consumption
India depends heavily on imports, with a large share of crude oil, natural gas, and LPG coming from Gulf countries, making domestic fuel prices sensitive to global changes.
Petrol prices in major Indian cities on May 30
Here are the latest petrol prices across major cities:
- New Delhi: Rs 102.12 per litre
- Kolkata: Rs 113.47 per litre
- Mumbai: Rs 111.18 per litre
- Chennai: Rs 107.77 per litre
- Bengaluru: Rs 110.91 per litre
- Hyderabad: Rs 115.69 per litre
- Jaipur: Rs 112.98 per litre
- Lucknow: Rs 102.04 per litre
- Patna: Rs 101.89 per litre
- Thiruvananthapuram: Rs 115.49 per litre
- Gurugram: Rs 102.69 per litre
- Chandigarh: Rs 101.51 per litre
Petrol prices remain above Rs 100 per litre in most metro cities, reflecting sustained pressure from global crude oil trends.
Diesel prices in major cities on May 30
Diesel rates also remained high across India:
- New Delhi: Rs 95.20 per litre
- Kolkata: Rs 99.82 per litre
- Mumbai: Rs 97.83 per litre
- Chennai: Rs 99.58 per litre
- Bengaluru: Rs 98.80 per litre
- Hyderabad: Rs 103.82 per litre
- Jaipur: Rs 97.06 per litre
- Lucknow: Rs 95.36 per litre
- Patna: Rs 99.36 per litre
- Thiruvananthapuram: Rs 104.42 per litre
- Chandigarh: Rs 86.47 per litre
Diesel continues to show strong price variation across states due to local taxation and transport costs.
Petrol and diesel price hike impact on India’s fuel market
Recent data shows a sharp increase in fuel consumption patterns across India:
- Over 150 districts recorded more than 30 per cent growth in petrol sales
- 14 districts reported petrol sales doubling
- Diesel sales rose over 30 per cent in 156 districts
At the same time, sales from private fuel retailers have declined, while state-run oil companies like Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited continue to dominate around 90 per cent of the market.
Officials noted that bulk users such as telecom towers are still paying market-linked rates, while retail pump pricing remains partially under pressure due to subsidies and cost absorption.
Fuel price outlook: Will petrol and diesel rates rise further?
Market experts and several reports suggest that petrol and diesel prices may remain volatile in the short term, depending on:
- Global crude oil stability
- Geopolitical tensions in oil-producing regions
- Demand from industrial and agricultural sectors
- Currency fluctuations affecting import costs
For now, fuel prices are expected to remain sensitive to global developments, with no immediate relief visible.
Inputs from agencies
