New Delhi, May 16: Petrol and diesel prices increased sharply across major Indian cities on Friday after state-run oil marketing companies implemented a fresh hike of more than ₹3 per litre, citing rising global crude oil prices and supply concerns linked to escalating tensions in West Asia.
The latest revision marks the first significant fuel price increase since May 2022, during which retail prices had largely remained stable despite sustained volatility in international crude markets.
Public sector fuel retailers said mounting crude procurement and refining costs had made the price adjustment necessary as global oil prices continue to remain elevated.
In the national capital, petrol prices rose by ₹3 to ₹97.77 per litre, while diesel prices climbed to ₹90.67 per litre.
Mumbai saw petrol prices increase by ₹3.10 to ₹106.64 per litre, while diesel rose to ₹93.14 per litre after a ₹3.11 hike.
In Kolkata, petrol prices crossed the ₹108 mark, reaching ₹108.74 per litre, while diesel climbed to ₹95.13 per litre.
Fuel prices in Chennai also moved higher, with petrol touching ₹103.67 per litre and diesel rising to ₹95.25 per litre.
Hyderabad continued to record the highest petrol prices among major Indian cities, with rates increasing by ₹3.39 to ₹110.89 per litre. Diesel prices in the city rose to ₹98.96 per litre.
Meanwhile, Thiruvananthapuram reported the highest diesel price in the country at ₹99.63 per litre, while petrol prices reached ₹110.75 per litre.
In Bengaluru, petrol prices climbed by ₹3.25 to ₹106.21 per litre and diesel rose to ₹94.10 per litre.
Other urban centres also witnessed notable increases. Petrol prices in Gurugram rose to ₹98.47 per litre, while rates in Noida increased to ₹97.78 per litre.
Lucknow remained among the relatively cheaper major cities, with petrol prices rising to ₹97.55 per litre.
In Jaipur, petrol prices reached ₹107.97 per litre, while Bhubaneswar saw rates rise to ₹104.19 per litre.
Despite the nationwide increase, Chandigarh continued to report the lowest fuel prices among major urban centres, with petrol priced at ₹97.27 per litre and diesel at ₹85.25 per litre.
The hike comes as global crude oil prices remain under pressure due to geopolitical instability in West Asia, particularly concerns surrounding energy supply disruptions and shipping routes in the region. Analysts expect fuel pricing trends to remain closely tied to international oil market movements and currency fluctuations in the coming weeks.
