Petrol and Diesel Prices Hiked Again Across India, Third Increase in 10 Days
Fuel rates continue to climb as global crude oil prices and West Asia tensions put pressure on India’s energy market.
New Delhi: Petrol and diesel prices were increased once again across the country on Saturday, marking the third fuel price hike in just 10 days. State owned oil marketing companies raised petrol prices by 87 paise per litre and diesel prices by 91 paise per litre amid rising international crude oil prices and continuing geopolitical tensions in West Asia.
In Delhi, petrol now costs Rs 99.51 per litre, up from Rs 98.64, while diesel prices have increased from Rs 91.58 to Rs 92.49 per litre.
The latest revision comes shortly after the Ministry of Petroleum and Natural Gas reassured citizens that there is no shortage of fuel in the country. The ministry said petrol and diesel supplies remain stable and appealed to people not to engage in panic buying.
Officials also stated that oil companies are closely monitoring supply and distribution to avoid disruptions at fuel stations during the current period of high demand.
Earlier this month, on May 16, fuel prices were increased by nearly Rs 3 per litre in several cities. Another rise of around 90 paise followed on May 19. With Saturday’s revision, petrol and diesel prices have gone up by almost Rs 5 per litre within days.
Here are the updated fuel prices in major cities:
Delhi
Petrol: Rs 99.51
Diesel: Rs 92.49
Kolkata
Petrol: Rs 110.64
Diesel: Rs 97.02
Mumbai
Petrol: Rs 108.49
Diesel: Rs 95.02
Chennai
Petrol: Rs 105.31
Diesel: Rs 96.98
Gurugram
Petrol: Rs 100.38
Diesel: Rs 92.92
Noida
Petrol: Rs 98.78
Diesel: Rs 93.12
Experts believe repeated fuel price hikes could increase transportation and logistics costs, which may eventually lead to higher prices for food items and other essential goods.
Government officials, however, said the price revisions are necessary due to rising import costs and uncertainty in global energy markets. India imports nearly 85 percent of its crude oil requirements, making domestic fuel prices highly sensitive to international developments.
Concerns over possible disruptions in the Strait of Hormuz, a key global oil transit route, have also added to worries over supply stability.
Meanwhile, CNG and PNG prices have also seen an increase in several cities. In Delhi, the price of CNG has been raised by Re 1 per kilogram. At Indraprastha Gas Limited stations, CNG is now being sold at Rs 81.09 per kg.