Fuel prices raised by 90p; second hike in 4 days
What's the story
Petrol and diesel prices have witnessed another hike across major Indian cities, marking the second increase in a week. In New Delhi, petrol has become costlier by ₹0.87 to ₹98.64 per liter from ₹97.77, while diesel has gone up by ₹0.91 to ₹91.58 from ₹90.67 per liter, according to reports. The latest revision comes after a ₹3-per-liter hike announced on May 15, adding to the burden on consumers already facing high transport and household costs.
Price surge
Petrol costs ₹109.7 per liter in Kolkata
Among major Indian cities, Kolkata has witnessed the highest jump in petrol prices. The cost has gone up by ₹0.96 to ₹109.7 per liter. Diesel there has also increased by ₹0.94 and is now priced at ₹96.07 per liter. In Chennai, petrol became costlier by ₹0.82, reaching ₹104.49 per liter while diesel rates were hiked by ₹0.86 to ₹96.11 per liter.
Mumbai rates
Mumbai also sees increase in fuel prices
In Mumbai, petrol has gone up by ₹0.91 to ₹107.59 per liter while diesel has increased by ₹0.94 to ₹94.08 per liter. The latest revisions show sustained pressure on retail fuel prices across India with all four metros witnessing sharp hikes in both petrol and diesel rates.
Market volatility
Global crude markets remain volatile amid rising tensions
The frequent changes in a short span indicate mounting pressure on fuel retailers as global crude markets continue to be volatile amid rising tensions in West Asia. This has led to a continued upward trend in retail fuel prices across India, affecting consumers already grappling with high transport and household costs.