Petrol, diesel prices hiked for fourth time in 10 days amid crude surge
NEW DELHI, 25 MAY: Petrol and diesel prices were raised again on Monday as state-run oil marketing companies continued to revise retail fuel rates upward amid elevated global crude oil prices and a weakening rupee.
The latest increase marks the fourth fuel price hike since May 15, taking the cumulative rise in petrol and diesel prices to nearly Rs 7.5 per litre after daily revisions resumed following a prolonged freeze.
In Delhi, petrol prices rose by Rs 2.61 per litre to Rs 102.12, crossing the Rs 100 mark, while diesel prices increased by Rs 2.71 to Rs 95.20 per litre, according to industry officials. Fuel rates were revised upward across other metro cities as well. Petrol prices in Mumbai climbed to Rs 111.21 per litre, while diesel rates rose to Rs 97.83 per litre. In Kolkata, petrol prices touched Rs 113.51 per litre and diesel prices reached Rs 99.82 per litre after the latest revision. Chennai recorded petrol prices of Rs 107.77 per litre and diesel prices of Rs 99.55 per litre.
Officials said the increase was driven by rising international crude oil prices and higher import costs caused by rupee depreciation. Global oil markets have remained volatile due to continuing geopolitical tensions in West Asia and disruptions in shipments through the Strait of Hormuz, one of the world’s most critical oil transit routes.
According to estimates by CRISIL, oil companies were continuing to incur losses of about Rs 10 per litre on petrol and Rs 13 per litre on diesel even after earlier revisions. Compressed natural gas (CNG) prices have also increased in recent weeks, with rates in Delhi raised by Re 1 per kg on May 23, taking cumulative hikes since May 15 to Rs 4 per kg.
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