Petrol, Diesel Prices Hiked Again: Delhi Rates Up By 87 Paise, 91 Paise; Kolkata Sees Sharpest Rise
Petrol, Diesel Prices Hiked Again across India as Delhi fuel rates rise by 87 paise and 91 paise, while Kolkata records the sharpest hike.
Petrol, Diesel Prices Hiked Again Across India: Delhi Fuel Rates Rise By 87 Paise and 91 Paise, Kolkata Records Sharpest Increase Amid Global Crude Oil Surge
Petrol, Diesel Prices Hiked Again Across Major Indian Cities
Petrol, Diesel Prices Hiked Again in India for the second time within a week, increasing the financial burden on commuters and transport businesses across the country. State-run oil companies revised fuel prices on Tuesday following rising international crude oil prices and continued geopolitical tensions in West Asia.
In Delhi, petrol prices increased by 87 paise per litre, taking the rate to ₹98.64 per litre. Diesel prices rose by 91 paise and now stand at ₹91.58 per litre. Kolkata witnessed the sharpest increase among metro cities, with petrol prices jumping by 96 paise to ₹109.70 per litre.
The latest hike comes just days after oil companies raised fuel prices by nearly ₹3 per litre, signaling continued pressure from global crude markets.
Why Are Petrol and Diesel Prices Rising Again?
The primary reason behind the latest fuel price hike is the surge in international crude oil prices. Ongoing tensions in the Middle East and disruptions in global oil supply chains have pushed Brent crude prices above $110 per barrel. India, which imports nearly 85% of its crude oil requirements, remains highly vulnerable to global price fluctuations.
Experts believe oil marketing companies are facing heavy losses due to rising import costs. According to reports, government-owned fuel retailers continue to lose hundreds of crores daily despite recent price hikes.
Another major factor is the weakening availability of discounted Russian crude oil, which had previously helped India manage fuel inflation.
Latest Petrol and Diesel Prices in Metro Cities
Here are the updated fuel rates after the latest revision:
Delhi Fuel Prices
- Petrol: ₹98.64/litre
- Diesel: ₹91.58/litre
Mumbai Fuel Prices
- Petrol: ₹107.59/litre
- Diesel: ₹94.08/litre
Kolkata Fuel Prices
- Petrol: ₹109.70/litre
- Diesel: ₹96.07/litre
Chennai Fuel Prices
- Petrol: ₹104.49/litre
- Diesel: ₹96.11/litre
Kolkata recorded the highest increase in petrol prices, while Mumbai and Kolkata jointly saw the biggest diesel price hike.
Impact of Fuel Price Hike on Common People
The repeated increase in petrol and diesel prices is expected to impact transportation costs, food prices, logistics, and daily commuting expenses. Auto drivers, taxi operators, and middle-class families are likely to feel the biggest impact as inflationary pressure rises further.
Higher fuel prices often trigger increases in the cost of essential goods because transportation forms a critical part of supply chains. Businesses dependent on road transport may eventually pass additional expenses on to consumers.
Industry analysts also warn that if global crude prices continue to rise, further hikes in domestic fuel prices cannot be ruled out.
Government Response on Fuel Price Increase
The government has assured citizens that there is no shortage of petrol or diesel in the country. Officials stated that India has sufficient fuel reserves and diversified crude sourcing from multiple countries to maintain uninterrupted supply.
However, opposition parties have criticized the repeated price hikes, accusing the government of failing to control inflation and protect common citizens from rising living costs.
Read more: Gold and Silver Prices Today: MCX Gold Rises Slightly While Silver Declines in Bullion Market
Will Petrol and Diesel Prices Increase Further?
Market experts suggest that fuel prices may continue to remain volatile in the coming weeks depending on global crude oil trends and geopolitical developments. If crude oil prices stay elevated, oil companies may implement additional revisions to reduce losses.
Consumers are now closely monitoring fuel price updates as continuous hikes could significantly affect household budgets and transportation sectors nationwide.
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FAQs
Why were petrol and diesel prices hiked again?
Fuel prices increased due to rising international crude oil prices, geopolitical tensions, and growing losses faced by oil marketing companies.
How much did petrol prices rise in Delhi?
Petrol prices in Delhi increased by 87 paise per litre, taking the new price to ₹98.64 per litre.
