Petrol, Diesel Prices Hiked For a Second Time in a Week Across Indian Cities
Petrol and diesel prices were increased by up to 90 paise per litre on 19 May, marking the second hike in less than a week.
The revised rates took immediate effect across major Indian cities, with Delhi, Mumbai, Kolkata, Chennai, and Bengaluru all witnessing significant increases.
This follows a previous hike of approximately Rs 3 per litre on 15 May, intensifying concerns over inflation and the cost of living for consumers nationwide.
According to Deccan Herald, petrol in Delhi now costs Rs 98.64 per litre, up by 87 paise, while diesel is priced at Rs 91.58 per litre, an increase of 91 paise. Mumbai recorded petrol at Rs 107.59 per litre and diesel at Rs 94.08 per litre, both up by 91 and 94 paise respectively. Kolkata saw one of the steepest hikes, with petrol rising by 96 paise to Rs 109.70 per litre and diesel by 94 paise to Rs 96.07 per litre.
As reported by Scroll, the price increases are attributed to rising global crude oil rates and ongoing supply concerns due to the conflict in West Asia. India, which imports 88 percent of its crude oil, is particularly vulnerable to international disruptions, especially those affecting the Strait of Hormuz. Benchmark Brent crude prices have surged, impacting domestic fuel costs.
Latest figures indicate that Chennai now has petrol at Rs 104.49 per litre and diesel at Rs 96.11 per litre, with Bengaluru also experiencing similar increases. Oil marketing companies reportedly continue to face daily losses despite the price hikes, with estimates of under-recoveries reaching Rs 750 crore per day on petrol, diesel, and LPG sales.
As highlighted by The Hindu, this is the second increase in less than a week, following a Rs 3 per litre hike on 15 May. The cumulative effect has led to widespread concern among consumers and businesses alike, with transport and logistics sectors particularly affected.
Officials from Maharashtra State Road Transport Corporation (MSRTC) have stated that the recent diesel price hike has imposed an additional annual burden of nearly Rs 124 crore on the corporation. The MSRTC is considering a fare hike for state transport buses if prices remain high beyond 31 May, though no immediate decision has been made. The daily fuel expenditure for MSRTC is expected to rise by nearly Rs 33.7 lakh.
“MSRTC requires an average of 1.087 million litres of diesel every day. The diesel price, which was Rs 88.21 per litre last week, has now increased to Rs 91.31 per litre, registering a rise of Rs 3.1 per litre,” said Transport Minister Pratap Sarnaik.
As noted in an article by Hindustan Times, Punjab Chief Minister Bhagwant Mann criticised the central government, alleging that fuel prices were artificially suppressed until elections and are now being raised, burdening citizens. Mann demanded public disclosure of India’s oil, gas, and gold reserves, and warned that further increases could follow if global tensions persist.
Public protests have also emerged in response to the hikes. In Visakhapatnam, the YSR Congress Party staged a unique rally using bullock carts and rickshaws to highlight the impact of high fuel prices. Party leaders criticised the state government for not reducing VAT and cesses, noting that Andhra Pradesh now has among the highest fuel prices in the country.
“With petrol touching Rs 113.62 per litre and diesel at Rs 101.24 due to high state VAT and cesses, Andhra Pradesh now records one among the highest fuel prices in the country,” said YSRCP district president KK Raju.
Analysis showed that the ongoing conflict in West Asia and disruptions in global supply chains are likely to keep fuel prices volatile in the near future. The government has not announced any immediate relief measures for oil marketing companies or consumers, and further developments are being closely monitored by industry stakeholders.
