The government implemented a ₹3 per litre increase in petrol and diesel prices nationwide on Friday, marking the first price revision in nearly four years of fuel stability. In Delhi, petrol prices rose from ₹94.77 to ₹97.77 per litre, while diesel rates increased from ₹87.67 to ₹90.67 per litre. Other major cities experienced similar revisions, with Kolkata seeing petrol prices climb to ₹108.74 per litre (up ₹3.29), Chennai reaching ₹103.67 per litre (up ₹2.83), and Mumbai recording ₹106.68 per litre (up ₹3.14). Diesel prices in Mumbai reached ₹93.14 per litre after a ₹3.11 increase, while Kolkata and Chennai saw diesel rates rise by the same amount to ₹95.13 and ₹95.25 per litre respectively.
According to ANI reports, Indian Oil Corporation Limited's Director (Refineries) Arvind Kumar described the price hike as a 'very small rise' despite mounting global pressures. Kumar emphasized that refineries are currently operating at over 100% capacity to maintain uninterrupted fuel supplies at petrol pumps. The director's comments suggest that despite the price increase, the company is managing to meet demand through efficient operations and capacity optimization.
The fuel price revision reflects the government's response to rising global crude oil prices, inflation concerns, and questions over the timing after elections, as reported by ANI. Economists warn that the ₹3 per litre increase could soon impact transport, groceries, and household expenses across the country. The price hike affects both essential fuels, with diesel rates showing similar increases across metro cities, indicating uniform pricing strategies across different fuel categories. The revision ends nearly four years of fuel price stability in India, with the ₹3 per litre increase representing a significant adjustment across major Indian cities. Industry experts note that while the current increase is minimal, crude oil prices could require additional adjustments of ₹20 per litre or more if market conditions persist.
