Consumers across the country will face higher transport costs as domestic fuel prices were increased again on Saturday, marking the third revision within a ten-day window. State-owned oil companies have implemented a calibrated upward revision to pass on the rising costs of global energy, which have remained elevated due to the ongoing conflict in the Middle East.
With the latest adjustment, petrol prices went up by 87 paise per litre, while diesel rates rose by 91 paise per litre in the national capital. This series of revisions began on May 15, accumulatively raising the retail fuel prices by nearly Rs 5 per litre over the last ten days.
Revised fuel rates across major metropolitan cities
Following Saturday’s market adjustment, the retail selling prices for fuel have shifted across major consumer hubs. In Delhi, petrol now retails at Rs 99.51 per litre, while diesel stands at Rs 92.49 per litre.
Other major metropolitan cities saw parallel increases based on local taxation and transport variables:
- Kolkata: Petrol jumped by 94 paise to retail at Rs 110.64 per litre, while diesel increased by 95 paise to hit Rs 97.02 per litre.
- Mumbai: Retail petrol increased by 90 paise to reach Rs 108.49 per litre, and diesel climbed by 94 paise to sell at Rs 95.02 per litre.
- Chennai: Petrol prices rose by 82 paise to Rs 105.31 per litre, whereas diesel increased by 87 paise to cost Rs 96.98 per litre.
Additionally, the price of Compressed Natural Gas (CNG) was increased by Rs 1 per kilogram in Delhi, taking its retail cost to Rs 81.09 per kilogram in the National Capital Region.
Gradual pass-through of global market pressures
The continuous upward adjustment follows a multi-week period of escalating crude prices. Before the latest weekend adjustment, fuel rates had already been raised by Rs 3 per litre on May 15, which was quickly followed by a 90 paise per litre hike on May 19.
Media sources close to government channels stated that the domestic oil market had previously received significant cushioning during high crude price cycles. During the height of the Hormuz supply crisis, the central administration indirectly absorbed price differences reaching up to Rs 24 per litre on petrol and Rs 30 per litre on diesel to shield consumers.
Financial data indicates that public sector oil marketing companies faced severe economic pressure during past stabilizing measures. Between 2021 and 2024, oil firms recorded collective losses of approximately Rs 24,500 crore. Furthermore, an economic burden of nearly Rs 40,000 crore was absorbed during the 2024-25 fiscal year specifically to keep liquefied petroleum gas (LPG) rates steady for retail consumers. The current staggered price hikes reflect a balancing act between protecting public fiscal healthcare and managing macro-level inflationary pressures.