Fuel Prices Skyrocket in India: Mumbai, Bengaluru and More Hit Hard
Fuel Prices Skyrocket in India: Mumbai, Bengaluru and More Hit Hard
Petrol and diesel prices surge across India as global crude costs rise. Discover how cities like Bengaluru and Mumbai are coping with the latest fuel price hike.
Fuel prices in India are seeing a sharp upward trend, with citizens in major metros like Hyderabad, Kolkata, and Mumbai feeling the pinch of some of the highest rates in the country. In the last 10 days alone, prices have jumped by nearly Rs 5 per litre. State-owned oil companies increased prices by 87-91 paise on Saturday, driven by volatile international crude prices and a weakening rupee that has made imports significantly more expensive.
In Bengaluru, the impact is particularly visible. Petrol is now retailing at ₹108.09 per litre, while diesel stands at ₹95.99. This follows a pattern of recent hikes, including a ₹3 jump on May 15 and another 90 paise increase on May 19. The rapid succession of these price adjustments is putting a strain on household budgets and business operations alike.
The ripple effect is being felt heavily in the hospitality sector. Hoteliers in Bengaluru report that rising diesel costs are driving up the price of essential supplies. Almost everything restaurants depend on—vegetables, milk, meat, and groceries—arrives through transport networks dependent on diesel. Even laundry materials and cooking supplies are seeing cost increases, forcing businesses to weigh the possibility of passing these costs on to customers.
Amidst concerns over supply, IndianOil has stepped in to clarify that there is no nationwide fuel shortage. While some outlets may face highly localized issues, the company assured that supply remains steady despite a massive surge in demand. Petrol sales rose 14% and diesel sales increased by 18% during the first three weeks of May, reflecting a period of sustained and exceptionally high growth in demand across the nation.
