Petrol, diesel prices increased by 90 paise, second hike in 5 days

The latest revision of prices follows a Rs 3-per-litre hike announced just days earlier, adding to the burden on consumers already facing high transport and household costs.

In Short

• Second fuel price increase in under a week hits consumers nationwide
• Rs 3 per litre fuel hike announced nationwide just three days earlier
• Rising West Asia tensions push global crude above USD 111 per barrel

Fuel prices have risen again across major Indian cities, marking the second increase within a week after oil companies revised retail rates on Monday.

In New Delhi, petrol climbed by 87 paise to Rs 98.64 per litre from Rs 97.77, while diesel went up by 91 paise to Rs 91.58 from Rs 90.67.

The latest revision of prices follows a Rs 3-per-litre hike announced just days earlier, adding to the burden on consumers already facing high transport and household costs.

Among the metros, Kolkata registered the sharpest jump in petrol rates. The price rose by 96 paise to Rs 109.70 per litre. Diesel there increased by 94 paise and is now available at Rs 96.07 per litre.

In Chennai, petrol became costlier by 82 paise, reaching Rs 104.49 per litre. Diesel rates in the city were raised by 86 paise to Rs 96.11 per litre.

The latest revisions reflect continued upward pressure on retail fuel costs nationwide, with all four metros recording noticeable increases in both petrol and diesel prices.

The repeated revision in a short span signals growing pressure on fuel retailers as global crude markets remain volatile amid escalating tensions in West Asia.

RS 3 HIKE ANNOUNCED ON FRIDAY

The latest increase follows a nationwide Rs 3 per litre hike in petrol and diesel announced last Friday. In Delhi, petrol had then risen from Rs 94.77 to Rs 97.77 per litre, while diesel moved up from Rs 87.67 to Rs 90.67.

Other major cities also saw steep revisions that day. Petrol touched Rs 108.74 per litre in Kolkata, Rs 106.68 in Mumbai and Rs 103.67 in Chennai. Diesel prices climbed to Rs 95.13 in Kolkata, Rs 93.14 in Mumbai and Rs 95.25 in Chennai.

At the same time, CNG prices in Delhi were raised by Rs 2 per kg, with the retail rate increasing from Rs 85 to Rs 87.

CRUDE SURGE DRIVING PRICE HIKE

The price hikes come as international crude oil prices continue to rise sharply due to the ongoing conflict in West Asia. Brent Crude was trading above USD 111 per barrel on Monday, while WTI crossed USD 107.

India imports nearly 85% of its crude oil needs, making domestic fuel prices highly sensitive to international market movements.

Concerns over disruption in the Strait of Hormuz — a key global oil shipping route — have added to fears of supply constraints.

RUSSIAN OIL CUSHION WEAKENS

Another key factor is the end of a US sanctions waiver that had allowed continued trade in Russian seaborne oil. The waiver lapsed on Saturday after a temporary extension by the administration of Donald Trump.

India had relied heavily on discounted Russian crude over the past two years to manage import costs.

With that supply cushion under pressure and crude nearing USD 111 per barrel, oil companies have started adjusting domestic prices after months of holding them steady.

ANY RESPITE IN SIGHT?

If Indian refiners cut back on discounted Russian crude due to sanctions concerns, they may need to source oil from alternative suppliers at a time when global supplies are already under pressure from the ongoing West Asia conflict.

This could sharply raise India’s import costs, weaken the rupee and add to inflationary pressures.

The impact would extend beyond fuel stations. Higher petrol and diesel prices can push up transport fares, airline tickets, food costs, logistics expenses and household budgets, affecting overall inflation in the economy.

Much now depends on whether crude prices remain above USD 111 per barrel and how quickly tensions in West Asia de-escalate.

- Ends