Fuel prices were raised again on Monday, with petrol becoming costlier by ₹2.61 per litre and diesel by ₹2.71 per litre, according to reports from The Times of India. This marks the fourth hike in less than two weeks, indicating sustained upward pressure on fuel costs. The sustained pattern of price increases reflects ongoing market dynamics affecting fuel pricing across India, with the latest increases bringing petrol prices to ₹102.12 per litre and diesel prices to ₹95.20 per litre in Delhi, crossing the ₹100 mark for petrol.
The latest price increases represent the fourth consecutive hike in fuel rates over a two-week period, as reported by The Times of India. In Delhi, petrol prices rose by ₹2.61 per litre to ₹102.12 and diesel increased by ₹2.71 to ₹95.20 per litre, while Mumbai recorded petrol at ₹111.21 per litre and diesel at ₹97.83 per litre. Kolkata saw petrol touch ₹113.51 per litre and diesel reach ₹99.82 per litre, and Chennai recorded petrol prices of ₹107.77 per litre and diesel at ₹99.55 per litre. These sustained increases reflect ongoing market dynamics affecting fuel pricing across India, with the latest hikes bringing cumulative rises to nearly ₹7.5 per litre after daily revisions resumed following a prolonged freeze.
The price increases are driven by rising international crude oil prices and higher import costs caused by rupee depreciation, according to industry officials. Global oil markets have remained volatile due to continuing geopolitical tensions in West Asia and disruptions in shipments through the Strait of Hormuz, one of the world's most critical oil transit routes. Oil marketing companies were still facing heavy losses despite previous price increases, with state-run firms losing nearly ₹750 crore per day even after the May 15 hike that reduced losses by around 25 per cent. Executives from Oil and Natural Gas Corporation and Bharat Petroleum Corporation Limited said sustained crude price volatility and under-recoveries had increased pressure on oil retailers.
