Global Fuel Prices: Pakistan Up 55%, US 44%, India Registers Rs 3 Increase
India sees Rs 3 fuel rise amid global comparison.
Retail fuel prices have surged across multiple countries following the escalation of geopolitical tensions in West Asia, with disruptions to oil shipments through key maritime routes pushing up global crude prices. In India, petrol and diesel prices were recently increased by ₹3 per litre each, marking the first revision in nearly four years.
The latest increase has taken petrol prices in Delhi to ₹97.77 per litre, up from ₹94.77, while diesel prices have risen to ₹90.67 per litre from ₹87.67. The revision reflects partial pass-through of higher global crude costs, which have been under pressure since the closure of the Strait of Hormuz, a critical global oil shipping chokepoint.
Until mid-May 2026, Indian state-run oil marketing companies had largely kept retail fuel prices unchanged since February 23, 2026, despite rising international crude rates. According to industry estimates, these companies were absorbing significant under-recoveries during this period, estimated at around ₹1,000 crore per day.
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In comparative global terms, fuel prices have risen sharply in several economies since the onset of the crisis. Pakistan has seen petrol prices increase by around 55%, while Malaysia and the United Arab Emirates have reported rises of 56% and 52% respectively. The United States has also recorded significant increases, with petrol prices up nearly 45% and diesel up about 48%.
In Europe, the impact has been comparatively moderate but still notable, with petrol prices rising around 14% in Germany, 19% in the United Kingdom, and 21% in France. Diesel has seen steeper increases across the region, particularly in the UK and France. In Asia-Pacific markets, Japan, South Korea, and Singapore have seen relatively contained petrol price increases below 20%, although Singapore has reported a sharp jump of around 65% in diesel prices.
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