Petrol, diesel and CNG prices were raised again on Saturday, marking the third fuel price hike in less than 10 days and adding to inflation worries and transport costs across the country.
Petrol prices in Delhi rose by 87 paise per litre to ₹99.51 from ₹98.64, while diesel prices increased by 91 paise to ₹92.49 from ₹91.58. The latest revision follows a ₹3 per litre increase on May 15 and another 90 paise hike on May 19.
With the latest revision, petrol and diesel prices have gone up by nearly ₹5 per litre within eight days as state-run oil marketing companies continue to pass on the impact of rising global crude oil prices linked to tensions in West Asia.
CNG prices across Delhi-NCR were also increased by Re 1 per kg.
The price hikes come after a ₹2 per kg increase on May 15 and another Re 1 hike on May 18, taking the cumulative increase in CNG prices to ₹4 per kg in less than two weeks.
India has now begun passing on higher global crude oil costs to consumers after holding fuel prices largely unchanged for nearly four years. The latest hikes are expected to raise transportation expenses and add pressure on household budgets.
The increases have also triggered political criticism, with opposition parties alleging that fuel price revisions were delayed to avoid electoral backlash.
According to reports, state-run oil marketing companies continue to face significant under-recoveries despite the recent hikes.
Bharat Petroleum Corporation Ltd (BPCL) has estimated current losses at:
₹25-30 per litre on diesel
₹10-14 per litre on petrol
The Centre has reportedly indicated that it does not plan to extend fiscal support to state refiners.
State-owned companies including Bharat Petroleum Corporation Ltd, Indian Oil Corporation and Hindustan Petroleum Corporation Ltd together control more than 90 percent of India’s fuel retail network.