India Raises Petrol and Diesel Prices for Third Time in Nine Days

India has once again raised fuel prices as mounting pressure from the global crude oil market and escalating tensions in West Asia continue to hit domestic energy costs. State-run oil marketing companies revised petrol and diesel prices for the third time within eight days, deepening concerns over inflation and transport costs across the country.

The latest revision, effective from Saturday, increased petrol prices by Rs 0.87 per litre and diesel by Rs 0.91 per litre. In Delhi, petrol is now being sold at Rs 99.51 per litre while diesel has climbed to Rs 92.49. Fuel prices have also risen further in Mumbai, Kolkata and Chennai.

The hike comes after an earlier increase of Rs 3 per litre at the beginning of the month, followed by another near one-rupee revision just days ago. With three successive hikes in a short span, pressure on India’s fuel market has intensified.

Government-owned oil companies had kept domestic prices relatively stable for months despite fluctuations in international markets. But with crude oil prices crossing the 100-dollar mark per barrel, companies now say sustaining losses has become increasingly difficult.

Oil companies cite heavy losses

State-run Bharat Petroleum Corporation Limited (BPCL) said it is currently selling diesel at a loss of Rs 25 to 30 per litre, while losses on petrol stand between Rs 10 and 14 per litre.

India imports nearly 85 to 90 percent of its crude oil requirement, making the country highly vulnerable to global supply shocks and geopolitical instability. The latest surge in prices has been linked to tensions involving Iran, concerns around supply routes near the Strait of Hormuz and the broader instability in West Asia.

Brent crude prices have crossed 104 dollars per barrel, while US benchmark West Texas Intermediate (WTI) has climbed close to 97 dollars.

India had been trying to contain import costs in recent years by purchasing discounted Russian crude oil. But the current rise in global prices has added fresh strain on domestic fuel pricing.

CNG prices also rise

Compressed Natural Gas (CNG) prices have also been revised upward again.

Delhi’s CNG rate has now reached Rs 81.09 per kilogram, while consumers in Noida and Ghaziabad are paying Rs 89.70 per kilogram after the latest increase.

The back-to-back rise in fuel and gas prices is expected to affect transportation, logistics and the cost of daily essentials in the coming days.

As speculation over possible shortages began circulating in some areas, India’s Ministry of Petroleum and Natural Gas urged the public not to engage in panic buying or unnecessary fuel storage, stating that sufficient reserves are available in the country.