Fuel Prices Hiked Again: Petrol Up By 87 Paise Per Litre, Diesel By 91 Paise

Fuel prices were hiked again across India on Saturday, with petrol increasing by Rs 0.87 per litre and diesel by Rs 0.91 per litre. This marks the third hike in retail fuel rates in 10 days and comes amid geopolitical tensions in West Asia.

Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.

Fuel price at Irwin Road Service Station on May 23 at 1 AM Hrs stood at Rs 91.58/L for diesel, Rs 98.64/L for petrol, Rs 105.76/L for XP95, and Rs 96.90/L for XG (IndianOil).  However, at 6:47 AM, it rose to Rs 92.49/L for Diesel, Rs 99.51/L for Petrol, Rs 106.63/L for XP95, and Rs 97.81/L for XG. 

Prices were hiked by Rs 3 a litre on May 15, followed by a 90 paise increase on May 19. In all, rates have gone up by almost Rs 5 per litre.

Meanwhile, if we look at crude oil, Brent has fallen by more than 6 per cent this week amid hopes of a deal between Iran and the United States.

The hike comes a day after the Ministry of Petroleum and Natural Gas assured that India has adequate petrol and diesel supplies.

“India has adequate availability of petrol and diesel supplies across the country continue to remain stable. Citizens are advised to avoid panic buying and purchase fuel only as per actual requirement. Temporary pressure at some retail outlets is being addressed through continuous supply monitoring and coordinated distribution efforts by Oil Marketing Companies,” the ministry stated in a post on X.