Fuel Prices Surge Across India in Third Hike Within 10 Days

Petrol and diesel costs have climbed once again across India, marking the third price adjustment in as many weeks and intensifying financial pressure on ordinary commuters and middle-income households.

On Saturday, government-owned fuel retailers implemented increases of 87 paise per litre for petrol and 91 paise per litre for diesel. The capital's petrol now stands at ₹99.51 per litre, while diesel has reached ₹92.49 per litre in Delhi.

This latest adjustment arrives just 10 days after the previous two revisions. Oil marketing companies have been progressively transferring the burden of surging international crude costs to consumers at the pump.

Geopolitical instability in the Middle East and apprehensions regarding shipping corridors through the Strait of Hormuz have contributed to the spike in global crude prices. Earlier this month, retailers had hiked rates by ₹3 per litre on May 15, followed by another increase of approximately 90 paise on May 19. In total, fuel prices have climbed nearly ₹5 per litre over the 10-day span.

Major metropolitan areas across the country have experienced similar increases. In Kolkata, petrol costs ₹110.64 per litre with diesel at ₹97.02. Mumbai's petrol trades at ₹108.49 per litre and diesel at ₹95.02. Chennai has recorded petrol prices of ₹105.31 per litre and diesel at ₹96.98.

Within Hyderabad, petrol has surged to ₹112.81 per litre while diesel now costs ₹100.94 per litre following the latest adjustment. Visakhapatnam has seen petrol prices climb to ₹113.53 per litre with diesel at ₹101.27.

The repeated increases have sparked apprehension among vehicle owners nationwide. Fuel rates had remained largely unchanged since April 2022, with a single reduction of ₹2 per litre occurring in March 2024. State-run oil corporations—including Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited—halted their practice of daily price adjustments in 2022 following volatility triggered by Russia's invasion of Ukraine.

The recent escalation in crude prices stems from the ongoing conflict in West Asia. India's crude oil basket averaged approximately $69 per barrel in February but has since risen to nearly $113-114 per barrel. With the nation importing roughly 90 per cent of its crude requirements, domestic fuel prices remain vulnerable to swings in international energy markets.