Petrol And Diesel Prices Rise Again, Total Hike Crosses Rs 7.5 Per Litre In Two Weeks
Fuel prices were increased for the fourth time since May 15, adding fresh pressure on household budgets and transport costs.
New Delhi: Petrol and diesel prices were increased again on Monday, with petrol becoming costlier by Rs 2.61 per litre and diesel by Rs 2.71 per litre.
This is the fourth fuel price hike in less than two weeks. Since price revisions restarted on May 15 after a long pause, petrol and diesel rates have gone up by nearly Rs 7.5 per litre.
In Delhi, petrol is now priced at Rs 102.12 per litre, up from Rs 99.51. Diesel has increased to Rs 95.20 per litre from Rs 92.49.
The repeated rise in fuel prices has raised concerns over inflation, as costlier petrol and diesel can directly impact transport charges, food prices, and daily expenses for ordinary people.
According to industry sources, the price hike is linked to rising global crude oil rates, higher refining costs, and pressure on the rupee. Since India depends heavily on imported crude oil, changes in international prices often affect domestic fuel rates.
Earlier, petrol and diesel prices were raised by Rs 3 per litre each on May 15. Another increase of 90 paise per litre followed on May 19. On May 23, petrol went up by 87 paise per litre and diesel by 91 paise per litre.
After the latest revision, petrol in Mumbai is now priced at Rs 111.21 per litre, while diesel costs Rs 97.83. In Kolkata, petrol has reached Rs 113.51 per litre and diesel Rs 99.82. In Chennai, petrol is selling at Rs 107.77 per litre and diesel at Rs 99.55.
Fuel prices differ from state to state because of local taxes and levies.
Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited control most of India’s fuel retail market. Private fuel companies have also revised their prices in line with the state run companies.
The fresh increases come at a time when crude oil prices in the global market have moved sharply higher. Supply concerns and tensions in key oil routes have added pressure to international fuel markets.
Fuel prices in India had remained unchanged for a long period since April 2022, except for a Rs 2 per litre reduction in March 2024. With the latest hikes, petrol and diesel rates are now at their highest level since May 2022.
Opposition parties have criticised the government over the timing of the price revisions, saying consumers were shielded before elections and are now being made to pay more. The government has maintained that fuel retailers had kept prices stable earlier to protect people from inflation.