Petrol and diesel prices were hiked again across India on Saturday, with petrol increasing by Rs 0.87 per litre and diesel by Rs 0.91 per litre. This marks the third upward revision in retail fuel rates this month by the state-owned oil companies amid sustained pressure from rising global crude oil prices and geopolitical tensions in West Asia.
In Delhi, as per a PTI report, petrol prices were raised by 87 paise per litre, increasing from Rs 98.64 to Rs 99.51, while diesel prices went up by 91 paise from Rs 91.58 to Rs 92.49 per litre.
The hike comes a day after the Ministry of Petroleum and Natural Gas had assured that, despite rumours, India has adequate petrol and diesel supplies.
"India has adequate availability of petrol and diesel supplies across the country continue to remain stable. Citizens are advised to avoid panic buying and purchase fuel only as per actual requirement. Temporary pressure at some retail outlets is being addressed through continuous supply monitoring and coordinated distribution efforts by Oil Marketing Companies," read a tweet by the ministry.
It also further added that responsible consumption and public cooperation will help ensure smooth fuel availability for everyone during the ongoing high-demand period.
On May 16, India saw a significant rise in its fuel prices after the state-run oil companies revised them, raising petrol and diesel rates by around Rs 3 per litre in several cities.
Following this, prices again saw a 90 paise increase in all metros on May 19. With the latest increase, fuel prices have risen by nearly Rs 5 per litre over the period.
Delhi
Petrol: Rs 99.51 (+0.87)
Diesel: Rs 92.49 (+0.91)
Kolkata
Petrol: Rs 110.64 (+0.87)
Diesel: Rs 97.02 (+0.91)
Mumbai
Petrol: Rs 108.49 (+0.87)
Diesel: Rs 95.02 (+0.91)
Chennai
Petrol: Rs 105.31 (+0.87)
Diesel: Rs 96.98 (+0.91)
Gurugram
Petrol: Rs 100.38 (+0.87)
Diesel: Rs 92.92 (0.91)
Noida
Petrol: Rs 98.78 (0.87)
Diesel: Rs 93.12 (0.91)
The fresh hike is likely to put additional pressure on commuters, transporters and businesses across multiple sectors. Experts have warned that repeated increases in petrol and diesel prices may lead to higher transportation and logistics costs, which could eventually push up the prices of essential goods and food items.
Government officials, however, maintained that the revisions are essential to offset rising import costs and ensure stability in fuel supplies amid ongoing geopolitical tensions and uncertainty in international energy markets.
India relies on imports for nearly 85 per cent of its crude oil requirements, making domestic fuel prices vulnerable to fluctuations in global markets. Growing concerns over possible disruptions in the Strait of Hormuz, one of the world’s most crucial oil transit routes, have further intensified fears of supply shortages.
Meanwhile, CNG and PNG prices have also been revised upward in several cities in recent days, adding to concerns over inflation and increasing household expenses.
Compressed Natural Gas (CNG) prices in Delhi have been increased by Re 1 per kilogram, adding to the burden on commuters and commercial vehicle operators amid rising fuel costs.
Following the revision, CNG is now being sold at Rs 81.09 per kg at Indraprastha Gas Limited (IGL) stations across the national capital.
