Petrol and diesel prices were increased again on Tuesday, marking the second hike within a week, as global crude oil prices remain volatile due to the ongoing Middle East conflict.
State-run oil marketing companies raised fuel prices by around 90 paise per litre across major cities. The latest revision comes just days after a ₹3-per-litre increase announced last Friday — the first major hike in nearly four years.
In Delhi, the price of petrol was increased to ₹98.64 per litre from ₹97.77, while diesel prices rose to ₹91.58 per litre from ₹90.67.
Kolkata recorded the steepest hike in petrol prices, which rose by 96 paise to ₹109.70 per litre, while diesel prices increased by 94 paise to ₹96.07 per litre.
In Mumbai, petrol now retails at ₹107.59 per litre, up by 91 paise, while diesel prices also rose by 91 paise.
In Chennai, petrol prices increased by 82 paise to ₹104.49 per litre, while diesel prices went up by 86 paise to ₹96.11 per litre.
The war in West Asia has pushed international oil prices up by more than 50 per cent. The basket of crude oil imported by India averaged around USD 69 per barrel in February, before the conflict erupted. In the following months, it rose sharply to an average of USD 113–114 per barrel.
Despite the surge in global crude prices, state-owned oil companies kept petrol and diesel prices unchanged for nearly 11 weeks. However, reports said the firms eventually passed on part of the increase to consumers after continuing operations became financially unsustainable.
