Fuel prices across India have been raised sharply, with petrol and diesel rates climbing by up to three rupees per litre. This marks the first major hike since 2022 and comes at a time when global crude oil remains volatile.
In Delhi, petrol now costs ₹97.77 per litre while diesel is priced at ₹90.67. Mumbai residents are paying ₹106.68 for petrol and ₹93.14 for diesel. Kolkata has seen petrol rise to ₹108.74 and diesel to ₹95.13. Chennai recorded petrol at ₹103.67 and diesel at ₹95.25.
The increase is linked to global crude oil prices staying above 100 dollars per barrel due to tensions in the Middle East. Supply disruptions in the Strait of Hormuz have added to freight and logistics costs. Inflation has also surged, with petrol inflation reaching 32.4 percent in April and diesel inflation at 25.19 percent.
Public sector oil companies had been absorbing losses of nearly ten billion rupees daily. With cheaper inventories exhausted, they were forced to revise prices.
For consumers, the hike means higher household expenses and rising transport costs. Freight charges are expected to push up prices of essential goods. Urban families, especially in Kolkata and Mumbai, face the steepest burden.
India, as the world’s third largest oil consumer, remains highly exposed to global supply shocks. Rising input costs may ripple across manufacturing and services, adding pressure on the broader economy.
