Fuel Prices Jump Again: Petrol and Diesel See Third Hike This Month
Fuel Prices Jump Again: Petrol and Diesel See Third Hike This Month
Commuters face more heat as petrol and diesel prices rise for the third time this month. See the latest rates in Delhi, Mumbai, and Kolkata here.
Commuters across India are feeling the pinch again as petrol and diesel prices have been hiked for the third time this month. State-run oil marketing companies announced the fresh revision on Saturday, citing the continued pressure from the global crude oil market. Under the new rates, petrol prices have increased by 87 paise per litre, while diesel is up by 91 paise per litre.
This latest hike follows a series of recent adjustments, including a 90-paise increase earlier this week and a significant 3-rupee jump just days before that. In the national capital, Delhi, petrol is now inching closer to the century mark at Rs 99.51 per litre, while diesel stands at Rs 92.49. Other major cities are seeing even higher rates, with petrol in Kolkata hitting Rs 110.64 and Mumbai reaching Rs 108.49.
The primary reason behind this surge is the rising cost of international crude oil. Geopolitical tensions in the Middle East have pushed global benchmark Brent crude to over USD 104 per barrel. Since India imports nearly 85% of its crude oil, any movement in global energy markets directly impacts the prices at your local fuel station.
Oil marketing companies have also indicated that they were under significant financial stress before these revisions. Reports suggest these companies were bearing losses of nearly Rs 1,000 crore per month. While CNG still remains a more cost-effective option for high-mileage users and commercial operators, the repeated hikes in petrol and diesel are narrowing the gap and raising concerns for everyone on the road.
