Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts.
Photograph: ANI Photo
From the 2008 oil shock to the impact of the COVID-19 pandemic and the Russia-Ukraine war, fuel prices have repeatedly surged, placing pressure on households and businesses alike.
Naturally, these sharp rises have made petrol one of the country’s most debated economic concerns.
Petrol and diesel prices were increased on Friday by Rs 3 per litre, after State-owned oil firms ended a record four-year hiatus in rate revision.
1. 2008
In June 2008, India witnessed its biggest-ever petrol price increase, with prices rising by Rs 5 per litre due to global crude oil prices soaring to $147 a barrel.
The sharp surge caused heavy losses for government-owned oil companies, pushing petrol prices to Rs 50.52 in Delhi and Rs 55.51 in Mumbai.
Photograph: ANI Photo
2. 2013
July 2010 saw the start of a climb in petrol prices in India, jumping from Rs 47 to Rs 73 per litre within just over two years. The steep rise was largely driven by the weakening value of the rupee against the US dollar, making global crude oil costs less affordable for India.
Petrol prices saw a notable increase, reaching Rs 66.39 per litre in Delhi after a Rs 2.40 rise, while in Mumbai the prices jumped by Rs 2.52 to Rs 74.60 per litre.
Photograph: Francis Mascarenhas/Reuters
3. 2022
Between 2020 and 2022, petrol prices in India climbed from Rs 81.06 to Rs 96.72 per litre, and in Delhi it went up to Rs 105, driven by the economic impact of the COVID-19 pandemic and the global disruption caused by the Russia-Ukraine conflict.
Photograph: Pradeep Kumar/ANI Photo
4. 2026
And now in May 2026, India witnessed a rather significant and frightening fuel price rise after a long gap, with petrol rates increasing by nearly Rs 3 per litre in one go. The surge was triggered by the Iran War with its consequent stoppage of transport of oil via the Strait of Hormuz and a sharp jump in global crude oil prices.
After the latest increase, petrol prices in Delhi rose from Rs 94.77 to Rs 97.77 per litre, while in Mumbai it reached Rs 106.68 per litre.
IMAGE: People queue up at petrol pumps due to a fear of shortage, Surat, May 14, 2026. Photograph: ANI Photo
