Daijiworld Media Network – New Delhi

New Delhi, May 15: Petrol and diesel prices were increased by up to Rs 3 per litre across the country on Friday, as rising global crude oil prices—fuelled by escalating tensions in West Asia—continue to impact the international energy market.

In the national capital, petrol prices rose from Rs 94.77 to Rs 97.77 per litre, while diesel increased from Rs 87.67 to Rs 90.67 per litre following the revision.

Among major metropolitan cities, petrol is now priced at Rs 108.74 per litre in Kolkata, Rs 106.68 in Mumbai, and Rs 103.67 in Chennai, with hikes ranging between Rs 2.83 and Rs 3.29 per litre. Diesel rates also saw a similar upward revision, touching Rs 95.13 in Kolkata, Rs 93.14 in Mumbai, and Rs 95.25 in Chennai.

In Delhi, CNG prices were also revised upward by Rs 2 per kg, increasing from Rs 85 to Rs 87.

State-run oil marketing companies had kept fuel prices unchanged for nearly 11 weeks despite sustained pressure from rising crude oil costs in global markets. Officials indicated that the latest hike reflects only a partial pass-through of increased input costs.

Petrol and diesel prices in India had largely remained unchanged since April 2022, except for a marginal Rs 2 per litre reduction announced in March 2024 ahead of the Lok Sabha elections. The oil marketing companies—Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited—had earlier suspended daily price revisions to shield consumers from volatility triggered by global crises.

However, renewed geopolitical tensions in West Asia have once again pushed crude oil prices higher, with India’s imported crude basket reportedly rising sharply from around $69 per barrel in February to nearly $113–$114 per barrel in recent weeks.

Experts say further price movements will depend on global crude trends and the duration of the ongoing geopolitical uncertainty, which continues to weigh heavily on energy markets worldwide.