Petrol and diesel prices in India have been increased once again, marking the third hike within just eight days amid rising global crude oil prices linked to escalating tensions in West Asia. State-run oil marketing companies (OMCs) on Saturday raised petrol prices by Rs 0.87 per litre and diesel prices by Rs 0.91 per litre.
Earlier this week, fuel prices were increased by 90 paise per litre after a previous hike of Rs 3 per litre. Prior to these revisions, government-owned OMCs had indicated that they were incurring losses of nearly Rs 1,000 crore per month due to elevated crude oil costs.
Following the latest revision, petrol in Delhi is now priced at Rs 99.51 per litre, while diesel costs Rs 92.49 per litre. In Kolkata, petrol prices have risen to Rs 110.64 per litre and diesel to Rs 97.02 per litre. Consumers in Mumbai are now paying Rs 108.49 per litre for petrol and Rs 95.02 per litre for diesel. In Chennai, petrol is being sold at Rs 105.31 per litre, while diesel costs Rs 96.98 per litre.
Alongside liquid fuels, compressed natural gas (CNG) prices have also continued to rise. Indraprastha Gas Limited (IGL) has increased CNG prices by Rs 1 per kg, the third hike in the past 10 days. Following the latest revision, CNG in Delhi now costs Rs 81.09 per kg, while consumers in Noida and Ghaziabad will pay Rs 89.70 per kg.
State-run refiner and fuel retailer Bharat Petroleum Corporation Limited recently said it is currently selling diesel at a loss of Rs 25-30 per litre and petrol at a loss of Rs 10-14 per litre.
Amid concerns over rising fuel demand and supply disruptions, the Ministry of Petroleum and Natural Gas assured consumers that the country has adequate stocks of petrol and diesel. In a message posted on X late Friday, the ministry urged people to avoid panic buying and said responsible consumption would help maintain smooth fuel availability during the high-demand period.
The latest increase in domestic fuel prices comes amid sharp volatility in global crude oil markets driven by geopolitical tensions in the Middle East. India imports nearly 85 percent of its crude oil requirements, making retail fuel prices highly vulnerable to fluctuations in international energy markets.