Fuel Prices Surge: Petrol, Diesel Rates Increased by Up to 91 Paise Per Litre

NEW DELHI, May 23: The petrol diesel price hike continued on Saturday as state-owned oil marketing companies increased fuel rates for the third time in less than 10 days, adding further pressure on household and transport expenses across the country.

In the national capital, petrol prices were raised by 87 paise per litre, taking the cost from Rs 98.64 to Rs 99.51 per litre. Diesel rates also witnessed a sharp revision, climbing by 91 paise from Rs 91.58 to Rs 92.49 per litre.

The latest revision follows earlier hikes announced on May 15 and May 19. Oil companies had first increased fuel prices by Rs 3 per litre on May 15 after a long period of stability. Another increase of around 90 paise per litre was implemented on May 19. With the fresh revision, petrol and diesel prices have risen by nearly Rs 5 per litre in total within a short span.

Officials indicated that the gradual increase is linked to rising international crude oil prices and elevated energy costs triggered by ongoing tensions in West Asia. The region remains a key supplier of crude oil to global markets, and any instability has a direct impact on fuel import expenses for countries like India.

The continuing petrol diesel price hike is expected to affect transportation costs, logistics operations and daily commuting expenses. Industry experts believe higher fuel prices may also influence inflation trends, particularly in sectors dependent on road transport.

Oil marketing companies review fuel prices periodically based on fluctuations in global crude rates, currency exchange movements and international supply conditions. Further revisions in domestic fuel rates are likely to depend on developments in the global energy market in the coming weeks.