Fuel Prices Hiked Again For Second Time In A Week; Petrol Rise By 0.86 Paise, Diesel By 0.83 Paise

New Delhi: Fuel prices have been increased once again across the country, with petrol prices rising by 0.86 paise per litre and diesel rates going up by 0.83 paise per litre, further burdening consumers already reeling under rising transportation and household expenses.

The latest revision comes just days after state-run oil marketing companies had increased petrol and diesel prices by nearly ₹3 per litre - the first major hike in nearly four years - amid soaring global crude oil prices and disruptions in international energy supply chains.

According to reports, the continued rise in fuel prices has been driven by escalating tensions in West Asia and disruptions around the Strait of Hormuz, a key global oil transit route. Brent crude prices have surged sharply in recent weeks, increasing pressure on India, which imports nearly 90 per cent of its crude oil requirements.

The fresh hike is expected to impact commuters, transport operators, and businesses across sectors. Experts warn that repeated increases in petrol and diesel prices could trigger a rise in transportation and logistics costs, eventually affecting the prices of essential commodities and food items. Public transport fares may also witness an upward revision if fuel prices continue to climb.

In Delhi, the cost of petrol went up by 87 paise to Rs 98.64 per litre, and diesel prices climbed by 91 paise to Rs 91.58 per litre. In Mumbai, petrol costs rose by 91 paise to Rs 107.59 per litre, whereas Chennai saw an increase of 82 paise, bringing the price to Rs 104.49 per litre.

As per the updated retail sale prices (RSP) effective May 19, petrol rates in Kolkata increased by 96 paise to Rs 109.70 per litre, marking the largest rise among the metropolitan cities.

Diesel costs experienced a new increase in key urban areas nationwide. In Kolkata and Mumbai, diesel costs increased by 94 paise each to Rs 96.07 per litre and Rs 94.08 per litre, respectively. Chennai experienced a rise in diesel prices by 86 paise to Rs 96.11 per litre

In the national capital, petrol prices had earlier climbed to ₹97.77 per litre while diesel touched ₹90.67 after the previous ₹3 hike. Mumbai, Kolkata, and Chennai also witnessed steep increases, with petrol prices crossing the ₹100-per-litre mark in several cities.

The Centre has maintained that there is no shortage of fuel in the country and that India currently has adequate reserves to manage the ongoing global crisis. Union Petroleum Minister Hardeep Singh Puri had recently stated that prolonged high crude prices could significantly increase losses for oil marketing companies if retail prices are not revised periodically. 

Reports suggest public sector oil firms are already facing heavy under-recoveries due to the gap between international crude prices and domestic retail fuel rates.

Meanwhile, prices of CNG and PNG have also seen upward revisions in several cities over the past few days, intensifying concerns over inflation and rising living costs. The opposition has criticised the repeated hikes, accusing the government of passing the burden of global volatility onto common citizens.

Officials, however, argue that the revisions are necessary to balance rising import costs and maintain fuel supply stability amid continuing geopolitical uncertainty. 

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