Centre hikes petrol, diesel prices by Rs 3 per litre
Centre hikes petrol, diesel prices by Rs 3 per litre
M.U.H
15/05/202621
Petrol and diesel price hike in India: Petrol and diesel prices were raised by Rs 3 per litre each on Friday, with oil marketing companies passing on part of the recent surge in global energy prices to consumers. CNG prices were also raised by Rs 2 per kg.
Following the revision, petrol in Delhi now costs Rs 97.77 per litre, up from Rs 94.77, while diesel has climbed to Rs 90.67 per litre from Rs 87.67, according to PTI.
Across major metros, petrol prices saw similar increases. In Kolkata, petrol is now priced at Rs 108.74 per litre, while in Mumbai it stands at Rs 106.68 and in Chennai at Rs 103.67. Diesel prices have also gone up, reaching Rs 95.13 per litre in Kolkata, Rs 93.14 in Mumbai, and Rs 95.25 in Chennai.
Despite higher costs, state-owned oil firms froze petrol and diesel rates for 11 weeks and raised prices only partially when finances turned unsustainable, PTI reported.
The increase is a 10th of the hike needed to account for the surge in global energy rates since the start of the West Asia conflict.
Prices have been frozen since April 2022, with just a one-time cut of Rs 2 per litre on both petrol and diesel in March 2024 ahead of the Lok Sabha polls.
Indian Oil, BPCL, and HPCL stopped daily price revisions in April 2022 to shield domestic users from sharp hikes after Russia’s Ukraine invasion sent global crude prices soaring. They faced steep losses in H1 of FY 2022-23 but recovered later as international rates eased.
However, the West Asia conflict has pushed global oil prices up by more than 50% again. India’s crude import basket, which averaged $69 per barrel in February before the war, rose to $113–$114 per barrel in the following months.
