New Delhi ,May 25
Petrol and diesel prices in India were increased by Rs 2.61 and Rs 2.71 per liter, respectively, on Monday, marking the fourth revision in less than two weeks. The total increase since May 15 has now reached nearly Rs 7.5 per liter, according to industry sources, amid rising global crude oil prices and currency pressures.
The latest hike takes petrol prices in Delhi to Rs 102.12 per liter from Rs 99.51, while diesel now costs Rs 95.20 per liter, up from Rs 92.49 earlier.
This round of increases follows a series of revisions after a prolonged freeze in retail fuel prices. On May 15, prices were raised by Rs 3 per liter each for petrol and diesel. Further revisions on May 19 and May 23 contributed to a steady upward trend in fuel costs over the past two weeks.
Industry sources said the cumulative increase reflects elevated global crude oil prices, tighter refining margins, and a weaker rupee, all of which have pushed up import costs for oil marketing companies.
State-owned fuel retailers, including Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited, control the bulk of the domestic fuel market and have been revising retail prices in line with international trends.
Prices also vary across cities due to local taxes. After the latest revision, petrol and diesel prices in major metros, including Mumbai, Kolkata, and Chennai, have also risen.
Petrol and diesel prices are now at their highest levels since May 2022. The sustained rise has raised concerns about inflationary pressures and higher transportation costs across sectors, with further movements likely to depend on global crude prices and currency fluctuations.
