Outlook Business Desk
Petrol and diesel prices increased again on Monday as state-run oil marketing companies continued revising rates amid rising international crude oil prices. This marked the fourth fuel price hike in May since daily revisions resumed after a long pause.
Fuel prices kept rising as tensions in the global oil market continued. Slow progress in US-Iran talks and concerns over crude oil supply disruptions pushed international oil prices higher.
Petrol and diesel prices have now increased by nearly ₹7.5 per litre since May 15. The government first announced a ₹3 hike, followed by two separate increases of around 90 paise before the latest revision on Monday.
In Delhi, petrol prices crossed the ₹100-per-litre mark for the first time in four years. Petrol rates increased from ₹99.51 to ₹102.12 per litre, while diesel prices rose from ₹92.49 to ₹95.20 per litre after the latest revision.
Mumbai recorded another sharp rise in fuel prices after the latest revision. Petrol prices increased by ₹2.72 to ₹111.21 per litre, while diesel prices climbed by ₹2.81, taking the retail rate to ₹97.83 per litre across the city.
In Kolkata, petrol prices rose by ₹2.87 per litre after the latest revision. Petrol now costs ₹113.51 per litre, while diesel prices also moved closer to the ₹100 mark, reaching ₹99.82 per litre across the city.
Fuel prices also increased further in Chennai and Bengaluru. Petrol prices rose to ₹107.77 per litre in Chennai, while diesel reached ₹99.55. In Bengaluru, petrol climbed to ₹110.69 and diesel increased to ₹98.69 per litre.
Fuel companies kept prices unchanged for over two months despite rising costs. The government said it aimed to control inflation, while opposition parties questioned the timing of the latest revisions.