Fuel prices saw another sharp revision on Monday, marking the fourth increase this month. Petrol prices were raised by ₹2.61 per litre, while diesel went up by ₹2.71 per litre, as state-run oil marketing companies continued adjusting rates in line with rising global crude costs.
The latest hike comes against a backdrop of continued volatility in the global energy market. Ongoing tensions, including the lack of progress in US-Iran negotiations and the closure of the Strait of Hormuz, have raised concerns over supply disruptions, pushing crude prices higher.
Prices climb nearly ₹7.5 in 10 days
With this revision, petrol and diesel prices have increased by nearly ₹7.5 per litre since daily revisions resumed on May 15 after a long pause. The first hike of ₹3 per litre was announced on May 15, followed by a 90 paise increase on May 19. Another similar hike was announced on Saturday, taking the total number of revisions to four within a short span.
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Petrol crosses ₹100 mark in Delhi
In Delhi, petrol now costs ₹102.12 per litre, up from ₹99.51, while diesel has risen to ₹95.20 per litre from ₹92.49. This is the first time in four years that petrol prices in the national capital have crossed the ₹100 mark. The last instance was on May 21, 2022, when petrol was priced at ₹105.41 per litre.
City-wise fuel rates
Across major cities, prices have climbed significantly:
Mumbai: Petrol is now priced at ₹111.21 per litre, while diesel costs ₹97.83 per litre.
Kolkata: Petrol has risen to ₹113.51 per litre, with diesel at ₹99.82 per litre.
Chennai: Petrol stands at ₹107.77 per litre, and diesel at ₹99.55 per litre.
Bengaluru: Petrol is retailing at ₹110.69 per litre, while diesel costs ₹98.69 per litre.
Also Read | Tripura raises dearness allowance by 5%, over 1.8 lakh employees and pensioners to benefit
Freeze, elections and price revisions
For nearly two-and-a-half months during the conflict period, fuel retailers did not revise prices despite increasing input costs. The government said this was done to shield consumers from inflationary pressure, while opposition parties claimed that revisions were held back until after key state elections.
Fuel prices are now at their highest levels since May 2022. Rates had remained largely steady since April 2022, apart from a ₹2 per litre cut announced in March 2024 ahead of national polls.
