Petrol, Diesel Prices in Delhi, Mumbai, Chennai, Kolkata Inceased By 90 Paise; Second Hike in Five Days

Fuel prices have been raised again across India, with petrol and diesel rates climbing in all major metros. This is the second increase in five days, following a Rs 3-per-litre hike, deepening pressure on household budgets and transport costs as global crude markets stay volatile.

The latest revision took effect on Monday and follows an earlier nationwide move on Friday that had already lifted prices sharply. Oil marketing companies had kept pump rates unchanged for several months, but the recent surge in international crude and supply worries has now started feeding into domestic fuel bills.

Fuel prices: Fresh hike after Rs 3-per-litre increase

The new round of fuel prices revisions comes soon after the Rs 3-per-litre jump on Friday. In that earlier revision, petrol in Delhi had climbed from Rs 94.77 to Rs 97.77 per litre, while diesel had been raised from Rs 87.67 to Rs 90.67, signalling renewed pricing pressure.

Other metros also saw sharp increases during the Friday hike. Petrol had reached Rs 108.74 per litre in Kolkata, Rs 106.68 in Mumbai and Rs 103.67 in Chennai. Diesel had moved to Rs 95.13 in Kolkata, Rs 93.14 in Mumbai and Rs 95.25 in Chennai, reshaping transport and logistics costs.

Fuel prices: Latest metro rates for petrol and diesel

Under Monday’s revision, petrol in New Delhi has risen by 87 paise to Rs 98.64 per litre, from Rs 97.77. Diesel there is now Rs 91.58 per litre, up 91 paise from Rs 90.67. The back-to-back increases have further lifted commuting expenses in the national capital region.

Kolkata has recorded the steepest petrol jump among the four major cities in the latest round. Petrol in the city now costs Rs 109.70 per litre, an increase of 96 paise. Diesel in Kolkata has gone up by 94 paise to Rs 96.07 per litre, tightening costs for local transport users.

In Chennai, petrol has become costlier by 82 paise and currently stands at Rs 104.49 per litre. Diesel in the city has been raised by 86 paise to Rs 96.11 per litre. All four metros have therefore seen visible increases in both petrol and diesel prices within a single week.

Fuel prices and crude oil: Global tensions and Russian supply

The rise in fuel prices is closely linked to the jump in international crude benchmarks. On Monday, Brent Crude was trading above USD 111 per barrel, while WTI crossed USD 107. The ongoing conflict in West Asia has sparked fears of supply disruptions and kept global prices elevated.

Concerns about possible disruption in the Strait of Hormuz, a crucial shipping channel for global oil flows, have added to market unease. India imports nearly 85% of its crude requirements, so even small changes in global benchmarks can have a strong impact on domestic fuel prices.

Another factor is the expiry of a United States sanctions waiver that had allowed continued trade in Russian seaborne oil. The waiver, temporarily extended by the administration of Donald Trump, ended on Saturday. This has reduced certainty over future access to discounted Russian barrels for Indian refiners.

India had leaned on cheaper Russian crude for around two years to restrain import bills. With that cushion now under strain, and crude hovering near USD 111 per barrel, oil companies have begun aligning retail fuel prices after keeping them largely frozen for several months, despite rising input costs.

Alongside petrol and diesel, CNG users in the national capital are also paying more. On Friday, CNG prices in Delhi were increased by Rs 2 per kg, lifting the retail rate from Rs 85 to Rs 87 per kg, adding to overall transport and delivery expenses in the city.

If Indian refiners have to scale back purchases of discounted Russian oil because of sanctions concerns, they may need to look to other suppliers. That search would happen at a time when West Asia tensions are already tightening global supplies, which could push India’s import bill and inflation higher.

Higher fuel prices can ripple across the wider economy through costlier road freight, air tickets, food distribution and daily commuting. The latest hikes therefore weigh on household budgets as well as business costs, while much depends on the course of crude prices and developments in West Asia.