Fuel Price Hike: The petrol and diesel prices were increased for the fourth time this month. Prices of petrol have risen to Rs 2.61 per litre and diesel prices increased up to Rs 2.71 per litre. The hike in prices comes amid a global energy crisis, as the US-Iran talks for a negotiation fail to reach a conclusion and the Strait of Hormuz remains closed.
On Saturday, the government announced a hike of an average of 90 paise per litre across the country across all fuel variants, making it the third such increase in eight days. The first hike of Rs 3 was announced on May 15, followed by a second increase of 90 paise on May 19.
Last week, speaking about the impact of the West Asia conflict, ONGC Director (Exploration) Sushma Rawat stated that the crude oil prices have remained highly volatile amid uncertainty over the conflict. "Whenever there is a declaration that there is a peace accord, the crude prices start to dip. And when you realise that there is no solution, the prices go up again," Rawat told ANI.
Check Price Rates In Major Cities
Delhi: The petrol price has risen to Rs 2.61 from Rs 99.51 to Rs 102.12 per litre, while diesel prices have gone up by Rs 2.71 from Rs 92.49 to Rs 95.20 per litre.
Mumbai:The price of petrol from Monday will be Rs 111.21 per litre, after an increase of Rs 2.72 per litre. Meanwhile, diesel prices have increased to Rs 2.81 per litre and stand at Rs 97.83 per litre.
ALSO READ: Costly Fuel, Fewer Trips? India's Transport Fuel Demand Growth May Reduce Sharply In 2026: Report
Kolkata: After the elections, Kolkata witnessed heavy hikes in fuel prices. On Monday, petrol prices have gone up by Rs 2.87 to Rs 113.51 per litre, while diesel now costs Rs 99.82 per litre after the latest revision.
Chennai: The prices of petrol in Chennai have increased to Rs 107.77 per litre and diesel at Rs 99.55 per litre.
Hike In CNG Prices In Recent Days
In Delhi, CNG prices were increased by Re 1 per kg on May 23. With earlier hikes on May 15 and May 17, the total increase in CNG prices has now reached Rs 4 per kg.
Fuel retailers across India, including private companies, have mostly followed the pricing pattern adopted by state-owned oil marketing firms.