Petrol and diesel prices were increased once again across the country on Saturday, marking the third hike this month as rising tensions in West Asia continued to push global crude oil prices upward.
State-run oil marketing companies increased petrol prices by up to 87 paise per litre and diesel prices by up to 91 paise per litre, further adding pressure on household budgets and transportation costs.
In Delhi, petrol prices rose to around Rs 99.51 per litre, while diesel prices increased to nearly Rs 92.50 per litre.
With the latest revision, fuel prices have now risen by almost Rs 5 per litre during May after a Rs 3 hike earlier in the month followed by another increase of around 90 paise last week.
In Mumbai, petrol prices crossed Rs 108 per litre, while diesel prices moved above Rs 95 per litre. Similar increases were recorded in Kolkata, Chennai and other major cities, with state taxes continuing to impact final retail prices.
The latest hike comes amid sustained volatility in global crude oil markets due to escalating geopolitical tensions in West Asia and concerns over disruptions in key international oil supply routes.
Brent crude prices have remained elevated in recent weeks, prompting oil companies to pass on part of the rising import burden to consumers.
India, which depends heavily on crude oil imports, has so far witnessed gradual revisions despite sharp movements in global energy markets.
However, rising fuel costs are expected to add pressure on inflation, transportation and logistics expenses, potentially impacting prices of essential commodities.
Industry experts believe fuel prices may remain under pressure if global crude prices continue to stay elevated and geopolitical uncertainty persists in the coming weeks.
