Petrol and diesel prices across the country registered another increase on Tuesday, rising by around 90 paise per litre. This marks the second hike in fuel rates in less than a week.Diesel prices have gone up by 91 paise per litre, while petrol has become costlier by 87 paise per litre. The latest revision follows an earlier increase announced on Friday, when oil companies raised petrol and diesel prices by Rs 3 per litre, pushing fuel costs higher across major metro cities.Here is how petrol and diesel are priced in your city today:
Petrol price today
Diesel price today
Meanwhile, on the energy situation, officials have maintained that India currently holds adequate fuel reserves. Sujata Sharma, joint secretary in the ministry of petroleum, said the Middle East crisis has been ongoing for over two and a half months, with conditions in the Strait of Hormuz still not normal. She also noted that global prices of crude oil, natural gas and LPG have risen sharply, which is impacting India’s import costs.At the same time, she said refineries are functioning normally and that the country has sufficient crude oil reserves.Retail fuel prices in India had largely remained unchanged since April 2022, apart from a one-time reduction of Rs 2 per litre each in petrol and diesel announced in March 2024 ahead of the Lok Sabha elections.With global crude prices continuing to climb beyond the $100 per barrel mark, compared with earlier levels of around $70, and retail prices in the country remaining unchanged, Oil Marketing Companies faced mounting losses of up to Rs 1,000 crore per day.Oil Marketing Companies such as Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited had suspended the daily fuel price revision mechanism in April 2022, aiming to shield consumers from sharp price increases.Earlier, RBI Governor Sanjay Malhotra had stated that the government may eventually have to raise petrol and diesel prices if the ongoing Middle East crisis continues for a prolonged period.
