Petrol Diesel Prices Latest Update: Delhi Fuel Prices Cross Rs 100 After Fresh Hike
Petrol Diesel Prices Latest Update: Analysts recently warned that if petrol and diesel prices keep going up, transportation and logistics will become more expensive. This could also make essential goods and food cost more.
Petrol Diesel Prices Latest Update: Fuel Prices Shoot Up Again In India
Fuel price hike: Petrol and diesel prices have once again increased in India. Petrol now costs Rs 2.61 more per litre, and diesel is up by Rs 2.71 per litre.
This is the fourth increase in two weeks, making the total rise Rs 7.5. State-run oil companies are raising prices to make up for earlier losses, especially since global crude oil prices have increased while local rates stayed the same.
Petrol Diesel Prices: What is the Main Reason Behind the Rise of Fuel Price?
The main reason for the hike is the ongoing conflict between the US and Iran in West Asia, which has closed the Strait of Hormuz.
Petrol crosses Rs 100: With the latest increase, petrol in New Delhi now costs Rs 102.12 per litre, and diesel is Rs 95.20 per litre.
Fuel Prices in India: ONGC’s Sushma Rawat Blamed West Asia Tensions for Volatile Crude Prices
Sushma Rawat, ONGC Director (Exploration), said crude oil prices have been very unstable because of the uncertainty caused by the conflict in West Asia.
While speaking to the media, Rawat said “Whenever there is an announcement of a peace accord, crude prices begin to fall.
But when it becomes clear that there is no immediate resolution, prices rise again.”
She said consumers in India were protected from the full impact of rising crude oil prices.
Fuel Price News: 76 Days of Price Relief from Government
The government gave people relief for 76 days by keeping prices steady. Prices increased because oil marketing companies (OMCs) were losing almost Rs 1,000 crore every day. How long can that continue?" she asked.
The previous change in petrol and diesel prices was on May 23, when oil marketing companies raised petrol by Rs 0.87 per litre and diesel by Rs 0.91 per litre.
Global crude oil prices: At the same time, global oil prices fell by more than 5 per cent as hopes grew for a peace deal between the United States and Iran, even though US President Donald Trump said an immediate breakthrough was unlikely.
At around 11 p.m. GMT on Sunday, North Sea Brent Crude fell by 5.1 percent to USD 98.22 per barrel.
WTI crude fell to USD 91.57 per barrel after a 5.2% drop, but later regained some ground.
Petrol Diesel Prices Increased: Fuel Price Rates in Major Cities
| CITIES | PETROL PRICE | DIESEL PRICE |
| Kolkata | Rs 113.51 (+2.87) | Rs 99.82 (+2.80) |
| Mumbai | Rs 111.21 (+2.72) | Rs 97.83 (+2.81) |
| Chennai | Rs 107.77 (+2.46) | Rs 99.55 (+2.57) |
Petrol Diesel Prices Latest News: Impact of Recent Price Hike
The recent fuel price hike will likely make things harder for commuters, transport operators, and businesses.
On May 16, after months of steady prices, India saw a Rs 3 increase in both petrol and diesel.
This surprised many people, since prices had mostly stayed the same since April 2022, except for a Rs 2 per litre cut in March 2024 before the Lok Sabha elections.
Petrol Diesel Prices Latest Update: Transportation, Logistics To Become Expensive Due to Fuel Hikes, Says Experts
According to experts, if petrol and diesel prices keep rising, transportation and logistics will likely become much more costly, further raising the prices of goods and food.
Government officials say these price changes are needed to cover higher import costs and keep fuel supplies steady, especially with ongoing geopolitical tensions and unstable global energy markets.
