Daijiworld Media Network – New Delhi

New Delhi, May 19: Petrol and diesel prices were hiked once again across major Indian cities on Monday, with petrol rates increasing by up to 96 paise and diesel by as much as 94 paise, marking the second fuel price revision within five days.

In Delhi, petrol prices rose by 87 paise to Rs 98.64 per litre, while diesel increased by 91 paise to Rs 91.58 per litre.

The latest hike comes just days after oil companies raised fuel prices by Rs 3 per litre nationwide, adding further pressure on consumers already struggling with rising transport and household expenses.

Among the metros, Kolkata recorded the steepest increase. Petrol prices there climbed by 96 paise to Rs 109.70 per litre, while diesel rates rose by 94 paise to Rs 96.07 per litre.

In Chennai, petrol prices increased by 82 paise to Rs 104.49 per litre, while diesel became costlier by 86 paise, reaching Rs 96.11 per litre.

Fuel prices in Mumbai also remained significantly high following the recent revisions.

The repeated increase in fuel rates comes amid a sharp rise in global crude oil prices due to escalating tensions in West Asia. Brent crude was trading above USD 111 per barrel on Monday, while WTI crude crossed USD 107 per barrel.

India imports nearly 85 per cent of its crude oil requirements, making domestic fuel prices highly sensitive to global market fluctuations.

Concerns over possible disruptions in the Strait of Hormuz, a crucial oil shipping route, have further heightened fears of supply shortages and increased import costs.

The latest price revision also follows uncertainty surrounding discounted Russian crude supplies after the expiry of a US sanctions waiver that had permitted continued trade in Russian seaborne oil.

Industry experts warn that sustained increases in petrol and diesel prices could have a wider impact on inflation, transportation costs, food prices and household budgets across the country.