Bengaluru: Fuel prices in Bengaluru have seen another increase, marking the third hike within a span of eight days. On Saturday, May 23, 2026, oil marketing companies raised the prices of petrol and diesel, with petrol now costing ₹108.09 per litre and diesel ₹95.99 per litre. This latest revision saw an average increase of 90 paise per litre across all fuel variants.
According to details received by The Chenab Times, oil companies had previously revised prices upwards by approximately ₹3 per litre on May 15, 2026, followed by an additional increase of 90 paise on May 19, 2026. The cumulative effect of these hikes over the past eight days has led to an increase of nearly ₹5 per litre for both petrol and diesel.
The transportation sector in Bengaluru has voiced concerns regarding the continuous rise in fuel costs, warning of a significant ripple effect on various businesses. Industry representatives indicated that they are finding it increasingly difficult to absorb the escalating operational expenses without eventually passing them on to consumers. This sentiment was echoed by private bus operators in Karnataka, who had previously announced a fare hike of 20-30 percent from midnight of May 15, 2026, citing rising operational costs due to fuel price surges. The Karnataka State Bus Owners’ Association had stated that the burden of increased fuel prices, coupled with high road tax and the impact of the Shakti scheme (free bus travel for women in government buses), made a fare revision unavoidable.
The upward revision in fuel prices is attributed to elevated energy prices in global markets, exacerbated by geopolitical tensions in West Asia and supply concerns around the Strait of Hormuz. Reports from The Hindu and Deccan Herald indicate that oil marketing companies have been incurring significant daily losses due to these global price surges. One estimate suggested that until mid-May 2026, these companies were facing losses of nearly ₹1,000 crore per day. The price hikes are seen as an effort to narrow these losses.
In the wider context of fuel pricing across India, petrol prices in several major cities are hovering around or above ₹100 per litre. As of May 23, 2026, among the metro cities, Kolkata recorded the highest petrol price at ₹110.64 per litre, followed by Mumbai at ₹108.49 per litre, and Chennai at ₹105.31 per litre. Bengaluru’s current prices place it among the higher-priced urban centers for fuel.
The recurring fuel price increases have also impacted other transport sectors. It was reported by The South First that school vehicle charges have seen an increase of up to 10 percent. Discussions were also underway regarding potential revisions in fares for cab aggregator services like Ola and Uber, with driver associations expected to hold meetings to discuss the issue.
The current situation in Bengaluru highlights the challenges faced by consumers and businesses alike due to volatile global energy markets and their impact on domestic fuel prices. The consistent hikes, even by small margins, accumulate over time, placing a strain on household budgets and the operational viability of transport-dependent industries. The ongoing increases underscore the sensitivity of the Indian economy to global oil price fluctuations.
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The Chenab Times News Desk
