India again hikes petrol and diesel prices

The Indian government on Tuesday once again increased the petrol and diesel prices, with fuel rates going up across all four metro cities, reported Indian media.

The latest revision comes less than a week after fuel prices were raised by Rs3 per litre amid rising global crude oil prices.

In Delhi, petrol prices increased by 87 paisa to Rs98.64 per litre, while diesel prices rose by 91 paisa to Rs91.58 per litre.

According to the revised retail sale prices (RSP) effective May 19, petrol prices in Kolkata rose by 96 paisa to Rs109.70 per litre, marking the steepest increase among the metros.

In Mumbai, petrol prices climbed by 91 paisa to Rs107.59 per litre, while Chennai recorded an increase of 82 paisa, taking the price to Rs104.49 per litre.

Diesel prices also witnessed a fresh hike across the country’s major cities.

In Kolkata and Mumbai, diesel prices rose by 94 paisa each to Rs96.07 per litre and Rs94.08 per litre, respectively.

Chennai saw diesel prices increase by 86 paisa to Rs96.11 per litre.

The latest increase marks the second revision in fuel prices within days.

Petrol and diesel rates were earlier increased by Rs3 per litre on Friday.

The recent fuel price hikes come amid volatility in global crude oil markets. International crude oil prices surged following escalating tensions in West Asia, particularly the ongoing conflict involving the US, Israel and Iran.

According to the report, Brent crude prices crossed USD 100 per barrel as supply concerns intensified. Alongside petrol and diesel, compressed natural gas (CNG) prices were also increased in the Delhi-NCR region on Sunday.

CNG prices were raised by Rs1 per kg from Sunday, marking the second increase within two days.

With the latest revision, CNG now costs Rs80.09 per kg in Delhi and Rs88.70 per kg in Noida and Ghaziabad.

Indian Minister Kiren Rijiju defended the recent increase in fuel prices and said India had limited the impact on consumers compared to several other countries affected by the West Asia conflict.

As quoted by ANI news agency, Rijiju said many countries witnessed fuel price hikes ranging from 20 percent to nearly 100 percent, while India limited the increase to 3.2 percent for petrol and 3.4 percent for diesel.

He also credited Prime Minister Narendra Modi for balancing economic stability with public welfare during the global energy crisis.