Petrol and diesel prices were increased for the fourth time in less than 10 days on Monday, with state-run oil companies raising rates by more than ₹2 per litre across major cities. The latest hike has pushed cumulative fuel price increases to nearly ₹7.5 per litre since May 15.
In the national capital, petrol crossed the ₹100-per-litre mark again for the first time in nearly four years, reaching ₹102.12 per litre, while diesel rose to ₹95.20 per litre.
The latest revision comes amid rising global crude oil prices and a weakening rupee, which have increased import costs for oil marketing companies.
Delhi Petrol Crosses ₹100 Mark Again
On Monday, petrol prices in Delhi increased by ₹2.61 per litre, while diesel rose by ₹2.71 per litre.
“Petrol in Delhi breached the ₹100 per litre mark after almost four years,” industry data showed. The last time fuel prices crossed this level was in May 2022 during the Russia-Ukraine conflict.
Among the four metro cities, Kolkata saw the sharpest rise in petrol prices, while Mumbai recorded the highest increase in diesel prices.
Fuel Rates in Major Cities
In Delhi, petrol is now priced at ₹102.12 per litre and diesel at ₹95.20.
In Mumbai, petrol rose by ₹2.72 to ₹111.21 per litre, while diesel increased by ₹2.81 to ₹97.83.
Kolkata witnessed the steepest petrol hike among metros, with prices jumping ₹2.87 to ₹113.51 per litre. Diesel there now costs ₹99.82 per litre.
In Chennai, petrol increased by ₹2.46 to ₹107.77, while diesel climbed to ₹99.55 per litre.
Outside metros, cities such as Hyderabad and Thiruvananthapuram recorded some of the highest fuel prices in the country. Petrol in Hyderabad reached ₹115.73 per litre, while diesel stood at ₹103.82. In Thiruvananthapuram, petrol touched ₹115.49 and diesel crossed ₹104 at ₹104.41 per litre.
Jaipur Sees Sharpest Petrol Increase
Among major cities, Jaipur witnessed one of the steepest fuel hikes. Petrol prices jumped ₹3.51 per litre to ₹113.35, while diesel increased by ₹3.34 to ₹98.39.
Meanwhile, fuel prices remained relatively lower in cities such as Lucknow, Noida and Chandigarh.
Why Are Fuel Prices Rising?
Oil marketing companies had kept petrol and diesel prices unchanged for nearly three months despite rising crude oil costs. However, beginning May 15, companies started passing on the burden to consumers through phased price hikes.
The first increase raised prices by ₹3 per litre, followed by two hikes of around 90 paise each. Monday’s revision marked the first major jump of more than ₹2 per litre since the hikes resumed.
India’s crude oil basket averaged around $107.96 per barrel till May 22, while global Brent crude had remained above $100 per barrel for several weeks due to supply concerns and geopolitical tensions.
However, Brent crude futures fell nearly 4.8% on Monday morning to around $98.59 per barrel amid reports of a possible peace deal between Iran and the United States, raising hopes of improved global oil supply.
Rising Fuel Costs Likely to Hit Households
The repeated increase in fuel prices is expected to raise transportation costs and put additional pressure on household budgets, especially as higher fuel prices often impact the cost of food, goods and public transport.
With fuel revisions continuing after a long freeze, consumers across the country are closely watching whether falling crude oil prices globally will bring relief in the coming weeks.
