Fuel Prices Go Up: Petrol, Diesel Dearer by Rs 3 Across India; Delhi CNG Hiked by Rs 2

Petrol and diesel prices were hiked by Rs 3 per litre across the country on Friday as rising global crude oil prices and the ongoing conflict in West Asia continued to tighten pressure on India’s fuel market.

In Delhi, petrol prices increased from Rs 94.77 to Rs 97.77 per litre, while diesel rates rose from Rs 87.67 to Rs 90.67 per litre. The revision was reflected across other major metros as well. Petrol prices climbed to Rs 108.74 per litre in Kolkata, Rs 106.68 in Mumbai and Rs 103.67 in Chennai. Diesel prices also saw sharp increases, reaching Rs 95.13 in Kolkata, Rs 93.14 in Mumbai and Rs 95.25 in Chennai.

At the same time, CNG prices in Delhi were raised by Rs 2 per kg, taking the retail rate from Rs 85 to Rs 87.

The fuel price increase comes after state-run oil marketing companies held retail rates steady for several weeks despite a steep rise in international crude oil prices. Reports suggest the companies had been absorbing a significant portion of the higher costs as global energy markets became increasingly volatile.

India had largely avoided major fuel price revisions even as crude prices surged following the worsening situation in West Asia. However, with crude prices reportedly crossing the USD 110 per barrel mark, oil companies were eventually forced to pass on part of the burden to consumers.

Petrol and diesel prices in India had remained mostly unchanged since April 2022, except for a Rs 2 per litre cut announced in March 2024 ahead of the Lok Sabha elections. Daily revisions were effectively suspended after the Russia-Ukraine conflict triggered a global energy shock, with oil companies initially absorbing losses before recovering when crude prices eased.

The fresh conflict in West Asia has once again disrupted global oil markets. India’s imported crude basket, which averaged around USD 69 per barrel earlier this year, has now reportedly surged to nearly USD 113-114 per barrel.

Speculation over a fuel price hike had been building for days before Friday’s announcement. The anticipation triggered heavy rushes at petrol pumps across several states, with motorists queuing up to refill tanks before prices increased.

Long lines were reported at fuel stations across Delhi-NCR, Uttar Pradesh, Gujarat, Odisha and Bihar, as many consumers rushed to top up vehicles amid fears that petrol and diesel prices could witness an even sharper jump.