Oil companies announced a fresh hike in fuel prices across major Indian cities after global crude oil surged due to tensions in West Asia. Petrol and diesel prices increased by around ₹3 per litre in several metro cities, directly impacting daily travel, logistics and commercial transport. According to latest reports, CNG prices rose by ₹2 per kilogram in Delhi, increasing from ₹77.09 to ₹79.09 due to higher global gas prices and increased import costs. The Mumbai Metropolitan Region (MMR) also saw a revision after Mahanagar Gas Limited (MGL) increased CNG prices by ₹2 per kilogram, with the new rate coming into effect from midnight.
Following the latest hike, fuel prices now stand at ₹97.77 per litre in Delhi, ₹108.74 in Kolkata, ₹106.68 in Mumbai and ₹103.67 in Chennai for petrol. Diesel prices are ₹90.67 in Delhi, ₹95.13 in Kolkata, ₹93.14 in Mumbai and ₹95.25 in Chennai. As per Outlook Business, the rise is due to rising shipping risks and supply uncertainty that pushed international energy costs higher, forcing revisions in petrol, diesel and CNG rates. The latest hike represents a 3-3.5% increase on the existing base price, reflecting the impact of geopolitical disruptions and global oil price volatility.
Fuel prices in India are revised every single day, with rates changing at 6 am each morning. According to reports from NDTV Profit, these price adjustments are based on movements in international crude oil prices and the rupee-dollar exchange rate from the previous day. This means the price at your neighbourhood pump on Monday could be different by Tuesday, making it essential to stay updated on daily changes. The price revisions occur at 6 am every day - a critical time for commuters and long-distance travelers to plan their fuel stops. The latest fuel price increase is only around one-tenth of the rise that would have been required to fully offset the sharp jump in global energy prices since the West Asia conflict began.
The fuel increase is expected to gradually push up transport and logistics costs, which may reflect in the prices of essential goods. Autorickshaw unions in Mumbai demanded a fare revision, saying rising fuel costs have reduced daily earnings and increased pressure on drivers operating under fixed fares. According to economists, this could impact household spending if the trend continues, with earlier reports also showing milk prices moving higher, adding pressure on household spending. When basic expenses rise, people usually reduce spending on non-essential items, which can lower overall demand in the market and affect business sales across sectors. Lower demand can also lead to slower production over time, which may impact economic activity if high costs continue for long.
The quickest and most accessible method involves sending an SMS to 92249 92249. Users need to SMS "RSP followed by a space and the dealer code of your petrol pump" to this number. The IndianOil ONE mobile app remains available on both Android and iOS platforms, offering comprehensive fuel tracking capabilities including real-time pricing and location services. For desktop verification, users can log on to www.iocl.com to verify fuel prices directly, with the website's comprehensive coverage ensuring users can verify prices across different cities and locations. The latest hike represents a 3-3.5% increase on the existing base price, reflecting the first hike in four years and ending a 76-day period of price stability.
