Petrol, Diesel Prices Hiked Again as Fuel Prices Rise for the Fourth Time in 10 Days Amid Iran Conflict

Fuel prices in India continued their upward march on Monday as petrol and diesel rates were increased for the fourth time in the last 10 days amid rising global energy concerns linked to the ongoing Iran conflict. With the latest revision, petrol prices in Delhi crossed the Rs 100-per-litre mark once again, adding further pressure on household budgets already strained by inflation.

Petrol, Diesel Rates Increased Again Amid Iran War; Delhi Petrol Above Rs 100 Per Litre

State-run oil marketing companies (OMCs) increased petrol prices by Rs 2.61 per litre, while diesel prices were raised by Rs 2.71 per litre. Following the hike, petrol in Delhi is now priced at Rs 102.12 per litre, while diesel costs Rs 95.20 per litre.

The latest increase follows another round of fuel price revisions announced on May 23, when petrol prices were raised by 87 paise per litre and diesel rates went up by 91 paise per litre. CNG prices in Delhi were also revised higher by Re 1 per kg to Rs 81.09 during the same period.

Petrol Prices Rise Across Major Metro Cities; Check Latest Rates on Monday

The fresh hike pushed fuel prices higher across all major metropolitan cities.

In Delhi, petrol prices climbed to Rs 102.12 per litre after an increase of Rs 2.61. In Kolkata, petrol now costs Rs 113.51 per litre following a hike of Rs 2.87. Mumbai recorded petrol prices at Rs 111.21 per litre after a Rs 2.72 increase, while Chennai saw prices rise to Rs 107.77 per litre with a Rs 2.46 hike.

Diesel Rates Also Witness Sharp Increase

Diesel prices also moved higher across the country, raising concerns over transportation and logistics costs.

In Delhi, diesel now costs Rs 95.20 per litre after a Rs 2.71 increase. Kolkata witnessed diesel prices touching Rs 99.82 per litre with a Rs 2.80 hike. In Mumbai, diesel prices rose to Rs 97.83 per litre, while Chennai recorded diesel rates at Rs 99.55 per litre after a Rs 2.57 increase.

US-Iran Conflict and Strait of Hormuz Disruption Push Oil Prices Higher

The latest fuel price revision comes amid continued geopolitical tensions surrounding Iran, which have disrupted global crude oil supply chains. Concerns over movement through the Strait of Hormuz - one of the world's most critical oil shipping routes - have led to volatility in international crude markets over the past several weeks.

According to earlier statements from state-run fuel retailers, companies were reportedly absorbing losses estimated at nearly Rs 1,000 crore per month before the recent price adjustments.

Interestingly, the latest domestic fuel hike was announced even as Brent crude prices declined more than 5% globally, slipping below the $100-per-barrel mark for the first time this month.

The increase in diesel prices is expected to have a wider impact on transportation and logistics costs, potentially leading to higher prices for daily-use goods and essential commodities.

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