Athira Sethu
Kochi, 15 May 2026
Shares of major Indian Oil Marketing Companies (OMCs), Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), and Bharat Petroleum Corporation Limited (BPCL), are in focus as the government increased petrol and diesel prices on Friday, May 15, 2026. The fuel price revision comes in response to the West Asian crisis that began at the end of February 2026, which caused international crude prices to surge by over 50%. Petrol prices in Delhi were raised from ₹94.77 per litre to ₹97.77 per litre, and diesel from ₹89.67 to ₹90.67 per litre. This marks the end of an 11-week freeze on fuel prices, which had been maintained despite rising input costs, in an effort to protect domestic consumers from steep international price shocks.
Fuel Price Revision Details
| Fuel Type | Previous Price (₹/Litre) | Revised Price (₹/Litre) | Change (₹) |
| Petrol (Delhi) | 94.77 | 97.77 | +3 |
| Diesel (Delhi) | 89.67 | 90.67 | +1 |
| LPG (Under-recovery/day) | — | ₹1,000–1,200 | — |
Crude Oil Price Trend
| Timeframe | Average Crude Price (USD/Barrel) |
| February 2026 (pre-West Asia war) | 69 |
| March–May 2026 (post-war) | 113–114 |
Impact on OMCs
| OMC | Daily Under-recovery / Losses | Effect of Price Hike |
| IOC | ₹1,000–1,200 crore/day | Protects marketing margins, improves profitability |
| BPCL | ₹1,000–1,200 crore/day | Reduces losses, supports cash flow |
| HPCL | ₹1,000–1,200 crore/day | Stabilizes financial performance for FY27 |
Sectoral Implications
| Sector | Impact of Fuel Price Hike |
| Aviation | Negative – higher fuel costs |
| Logistics | Negative – increased operating costs |
| Chemicals | Negative – higher crude-related input costs |
| Tyres | Negative – increased production costs |
| Paints | Negative – higher raw material costs |
| OMCs | Positive – improved margins and reduced under-recoveries |
