India hikes petrol and diesel prices for fourth time in 11 days
The Indian government has again hiked petrol and diesel prices on Monday by Rs2.61 and 2.71 per litre across major cities, marking the fourth increase in just 11 days, Indian media reported.
Petrol and diesel prices were raised sharply again on Monday, with state-owned oil marketing companies increasing retail fuel rates by Rs2.61 and Rs2.71 per litre across major cities, marking the fourth hike in less than two weeks amid elevated global crude oil prices and a weakening rupee.
With the latest revision, cumulative increases in petrol and diesel prices have now touched nearly Rs7.5 per litre since fuel price revisions resumed on May 15 after a prolonged freeze.
In Delhi, petrol prices were increased by Rs2.61 per litre to Rs102.12 from Rs 99.51, while diesel rates rose by Rs2.71 per litre to Rs95.20 from Rs92.49.
The latest revision pushed fuel prices significantly higher across all four metro cities.
Petrol prices in Delhi stood at Rs102.12 per litre after the increase of Rs2.61, while Kolkata saw rates rise by Rs2.87 to Rs113.51 per litre.
In Mumbai, petrol prices climbed by Rs2.72 to Rs111.21 per litre, and in Chennai, prices increased by Rs2.46 to Rs107.77 per litre.
Similarly, diesel prices in Delhi rose by Rs2.71 to Rs95.20 per litre. Kolkata recorded an increase of Rs2.80, taking diesel rates to Rs 99.82 per litre.
In Mumbai, diesel price climbed by Rs2.81 to Rs97.83 per litre, while Chennai saw diesel rate rise by Rs2.57 to Rs99.55 per litre.
Industry officials said the hikes were driven by elevated international crude oil prices and the depreciation of the rupee, both of which have increased import costs for oil marketing companies.
Monday’s increase marks the fourth revision in fuel prices since May 15, when state-owned firms resumed revising rates after maintaining a prolonged freeze on retail prices.
Petrol and diesel prices were first raised by Rs3 per litre each on May 15, followed by another increase of around 90 paisa per litre on May 19.
On May 23, fuel prices were again revised upward by 87-91 paisa per litre.
The May 23 hike had pushed petrol prices in Delhi to Rs99.51 per litre and diesel to Rs92.49 per litre before Monday’s latest revision.