Petrol and diesel prices were increased once again on Saturday, marking the third hike in less than 10 days as state-owned oil companies continued to pass on rising global energy costs to consumers.
In Delhi, petrol prices rose by 87 paise to Rs 99.51 per litre from Rs 98.64, while diesel prices increased by 91 paise to Rs 92.49 per litre from Rs 91.58.
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Kolkata witnessed one of the sharpest hikes, with petrol prices climbing by 94 paise to Rs 110.64 per litre. Diesel in the city also went up by 95 paise and is now retailing at Rs 97.02 per litre.
In Mumbai, petrol now costs Rs 108.49 per litre after a 90 paise increase, while diesel prices have risen by 94 paise to Rs 95.02 per litre.
Chennai also saw a rise in fuel rates, with petrol prices increasing by 82 paise to Rs 105.31 per litre and diesel going up by 87 paise to Rs 96.98 per litre.
This is the third revision in fuel prices since May 15, when oil marketing companies began gradually increasing rates in response to surging global crude prices linked to the escalating Middle East conflict. Fuel prices were first raised by Rs 3 per litre on May 15, followed by another 90 paise increase on May 19. With the latest revision, petrol and diesel prices have increased by nearly Rs 5 per litre overall.
Fuel rates continue to differ across states due to varying Value Added Tax (VAT) structures imposed by state governments.
The repeated hikes come amid a sharp rise in international crude oil prices, which have surged by more than 50 per cent since late February following US-Israeli strikes on Iran and disruptions in oil shipments through the Strait of Hormuz, one of the world’s most critical oil transit routes.
Petrol and diesel prices are now at their highest levels since May 2022. Fuel rates had largely remained unchanged since April 2022, except for a Rs 2-per-litre reduction announced in March 2024 ahead of the Lok Sabha elections.
The rising fuel costs are also adding pressure on India’s economy, with concerns over a growing oil import bill and widening current account deficit. Prime Minister Narendra Modi had recently urged citizens and government departments to conserve fuel, encourage work-from-home arrangements, and reduce unnecessary travel amid mounting energy costs.
Several state governments have reportedly begun restricting official travel, limiting physical meetings, and operating offices with reduced staff strength in an effort to cut fuel consumption and manage expenditure.
(This story is published from a syndicated feed)
