In a direct fallout of the escalating West Asia conflict, Indian consumers faced a sharp rise in fuel prices in May, feeling the impact across multiple fronts. Petrol and diesel prices were hiked by ₹3 per litre — the first increase in four years — while CNG rates went up by ₹2. Earlier this month, oil companies had also raised prices of commercial LPG cylinders, bulk diesel and aviation turbine fuel (ATF). Here’s a look at how much prices have increased for each of them:
Petrol price hike
Petrol and diesel prices were hiked by ₹3 per litre each on Friday, the first rate increase in more than four years, amid mounting losses of fuel retailers due to surging global crude prices.
One of the key reasons behind the hike is the sharp rise in global energy prices following the outbreak of the conflict in West Asia.
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Why have petrol and diesel prices increased in India?⌵
Petrol and diesel prices have been hiked due to a sharp rise in global energy prices following the conflict in West Asia. Oil companies passed on part of the burden after operations became financially unviable due to surging global crude prices.
How much have petrol and diesel prices increased?⌵
Petrol and diesel prices were hiked by ₹3 per litre each. In Delhi, petrol now costs ₹97.77 per litre and diesel ₹90.67 per litre.
What is the reason for the increase in CNG prices?⌵
CNG prices have been increased by ₹2 per kg. The revised rates came into effect across the country, following broader increases in fuel prices.
Have commercial LPG cylinder prices also gone up?⌵
Yes, the price of 19-kg commercial LPG cylinders was increased by ₹993 on May 1. In Delhi, a 19-kg cylinder now costs ₹3,071.50.
Why have fuel prices remained unchanged for a long period before the recent hike?⌵
State-run oil companies had kept fuel prices unchanged for 11 weeks, absorbing rising input costs. They eventually passed on part of the burden when operations became financially unsustainable due to surging global crude prices.
India was among the last major economies to raise retail fuel prices. State-run oil companies held rates steady for 11 weeks despite rising input costs. Sources told PTI they eventually passed on part of the burden after operations became financially unviable.
Here’s the latest petrol, diesel rates in your city
- Petrol price was hiked to ₹97.77 per litre from ₹94.77 in Delhi. Diesel now costs ₹90.67 as against ₹87.67 per litre previously
- Petrol in Mumbai now costs ₹106.68 a litre and diesel comes for ₹93.14 per litre.
- In Kolkata, petrol now costs ₹108.74 per litre and diesel ₹95.13
- In Chennai, prices increased to ₹103.67 for petrol and ₹95.25 for diesel.
- In Hyderabad, you pay ₹110.89 for petrol and ₹98.96 for diesel.
CNG price hike
Compressed Natural Gas (CNG) prices have been increased by ₹2 per kg, taking rate in Delhi from ₹77.09 to ₹79.09 per kg.
The revised rates came into effect immediately across the country.
Commercial LPG price hike
On May 1, state-owned oil marketing companies increased the price of 19-kg commercial Liquefied Petroleum Gas (LPG) cylinders by ₹993. In Delhi, a 19-kg cylinder now costs ₹3,071.50.
Commercial LPG prices have been raised twice in recent months. It was first increased by ₹144 in March and nearly ₹200 on 1 April.
New commercial LPG rates in Indian cities
Here are the latest rates of a 19-kg commercial in major cities of the country on Friday after the hike:
- Mumbai: ₹3,024
- Bengaluru: ₹3,152
- New Delhi: ₹3,071.50
- Ahmedabad: ₹3,091
- Kolkata: ₹3,202
- Chennai: ₹3,237
- Pune: ₹3,084
The government, however, kept the price of 14.2-kg domestic LPG cylinders unchanged, insulating households from recent volatility in international fuel prices. Oil companies typically review and revise LPG prices at the start of each month.
Bulk diesel and jet fuel prices raised
Indian Oil Corp Ltd. announced that bulk diesel and aviation turbine fuel (ATF), or jet fuel used for international airline operations, have also been raised. The statement and the company website, however, did not specify the revised rates.
The Indian Oil statement said: “Price revisions have been limited to select industrial segments, which constitute a relatively small share of overall consumption and are subject to routine monthly adjustments based on prevailing international prices.”