Petrol and diesel prices across India have been revised upward after oil marketing companies announced a fresh hike of around Rs 3 per litre amid continued pressure from elevated global crude oil prices linked to the West Asia crisis and disruptions around the Strait of Hormuz.
According to the latest revised rates, petrol prices have crossed Rs 110 per litre in some states, including Telangana, Kerala and Andhra Pradesh, while diesel prices are nearing the Rs 100 mark in many regions.
Additionally, prices of CNG in Delhi-NCR have gone up by Rs 2 to Rs 79.09 per kg. Earlier, Mahanagar Gas Limited had raised CNG prices by Rs 2 in Mumbai region.
Latest
petrol and diesel price updates for cities and states across India.
Major cities: Latest petrol prices
As per the revised rates, petrol in New Delhi now costs Rs 97.77 per litre after a Rs 3 hike. In Mumbai, petrol is retailing at Rs 106.64 per litre, while Chennai and Kolkata have also seen sharp increases.
Among states, Andhra Pradesh recorded petrol prices at Rs 113.03 per litre, one of the highest in the country. Kerala stood at Rs 110.75, while Telangana recorded Rs 110.89 per litre.
Diesel prices also surge
Diesel prices have also increased sharply across the country. In Delhi, diesel now costs Rs 90.67 per litre, while Hyderabad and Kerala are nearing Rs 100 per litre.
India had so far avoided raising petrol and diesel prices despite a steep jump in global crude oil prices triggered by the Iran conflict and the Strait of Hormuz crisis.
However, mounting under-recoveries suffered by oil marketing companies forced the latest revision.
State-run oil companies are estimated to be losing between Rs 1,000 crore and Rs 1,200 crore daily due to elevated crude prices and previously unchanged retail fuel rates.
India imports nearly 90 per cent of its crude oil requirements, making domestic fuel prices highly sensitive to global energy shocks.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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