Petrol and diesel prices were increased again across India on Saturday, marking the third retail fuel price hike within 10 days. State-run oil companies raised petrol prices by 87 paise per litre and diesel prices by 91 paise per litre amid continued pressure from rising global crude oil prices and tensions in West Asia. In Delhi, petrol prices increased from Rs 98.64 to Rs 99.51 per litre, while diesel prices rose from Rs 91.58 to Rs 92.49 per litre.
Following the latest revision, fuel prices in major cities stood at: 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; and Noida — petrol Rs 98.78, diesel Rs 93.12. Petrol prices increased by 87 paise and diesel by 91 paise in each of these cities.
The latest increase came a day after the Ministry of Petroleum and Natural Gas stated that India has adequate availability of petrol and diesel and urged citizens not to panic buy fuel. The ministry said fuel supplies across the country remained stable and temporary pressure at some retail outlets was being managed through continuous supply monitoring and coordinated distribution efforts by oil marketing companies.
Earlier this month, state-owned oil companies had increased petrol and diesel prices by around Rs 3 per litre in several cities on May 16. Another hike of around 90 paise per litre followed on May 19. With the latest revision, fuel prices have increased by nearly Rs 5 per litre within a span of 10 days.
India imports nearly 85 per cent of its crude oil requirements, making domestic fuel prices sensitive to changes in global energy markets. Concerns over possible disruptions in the Strait of Hormuz and continued geopolitical tensions in West Asia have contributed to fears of supply instability and rising import costs. Government officials stated that the price revisions were necessary to offset higher import expenses and maintain fuel supply stability.
CNG and PNG prices have also been revised upward in several cities in recent days. In Delhi, Compressed Natural Gas prices were increased by Re 1 per kilogram. Following the revision, CNG is now being sold at Rs 81.09 per kg at stations operated by Indraprastha Gas Limited in the national capital.