Key Takeaways:
- Fuel prices jumped on Monday as state-run retailers raised petrol by ₹2.61 and diesel by ₹2.71 per litre. fuel price hike india.
- The fourth revision in 10 days pushed Bengaluru petrol past ₹110 per litre and Delhi above ₹100.
- Cumulative rate hikes have neared ₹7.5 per litre since the price freeze ended on May 15.
State-run oil marketing companies on Monday raised petrol and diesel prices for the fourth time in 10 days, pushing petrol prices above Rs 110 per litre in Bengaluru amid rising global crude oil costs linked to tensions in West Asia.
The latest increase raised petrol prices by Rs 2.61 per litre and diesel prices by Rs 2.71 per litre across several major cities, according to industry data and fuel retailers.
Global crude surge pushes fuel rates higher
The repeated hikes follow rising international oil prices after the ongoing Iran conflict and disruption concerns around the Strait of Hormuz, a key global oil shipping route.
In New Delhi, petrol prices climbed to Rs 102.12 per litre, while diesel reached Rs 95.20. Mumbai reported petrol at Rs 111.21 per litre, and Chennai recorded Rs 107.77 per litre after the revision.
Bengaluru petrol prices crossed Rs 110 per litre, continuing an upward trend seen since the first major revision on May 15, when fuel price hike india. after nearly four years of relative stability.
A senior executive at an oil marketing company said refiners were under pressure from rising import costs and currency fluctuations.
“Global crude prices and shipping uncertainties are increasing procurement costs substantially,” the executive said, requesting anonymity because they were not authorized to speak publicly.
Consumers brace for higher transport costs
The cumulative increase in petrol and diesel prices since May 15 has approached Rs 7.5 per litre, according to media reports and industry estimates.
Transport operators and commuters in several cities said the hikes were affecting household budgets and daily travel decisions.
In Kolkata, some commuters shifted from private vehicles to public transport following consecutive Fuel Price Hike India, local reports said.
“This will directly affect transportation and delivery costs,” said Ramesh Kulkarni, a Bengaluru-based taxi operator. “Drivers are already struggling with maintenance expenses and loan repayments.”
Economists warned that sustained increases in fuel prices could add pressure to inflation, especially in food distribution and logistics sectors.
“Diesel prices have a broad impact on supply chains and commodity movement,” said independent energy analyst Vandana Sharma. “If crude prices remain elevated, inflationary pressures may continue in the coming weeks.”
Oil retailers seek to recover mounting losses
India’s three state-run fuel retailers, Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, control nearly 90% of the country’s fuel retail market.
Reuters reported that the companies have been gradually increasing fuel prices to offset losses caused by high crude oil prices and delayed retail revisions.
Government officials have not announced any immediate subsidy measures to cushion consumers from the latest hikes. Analysts said future price movements would depend largely on global oil markets and geopolitical developments in West Asia.
