Petrol, diesel prices hiked again, fourth time this month, check new rates; will prices rise further?
Oil companies have hiked the prices of petrol by Rs 2.61 per liter and diesel by Rs 2.71 per liter on Monday, May 25. Following this increase, the price of one liter of petrol in Delhi now stands at Rs 102.12, while diesel is priced at Rs 95.20.
Oil companies claim that they were incurring daily losses of approximately Rs 1,000 crore—a burden that could not be sustained for an extended period—and consequently, the burden of these rising costs is now being passed on to consumers. If international conditions do not improve in the coming days, further price hikes may be witnessed.
Apart from Delhi, petrol prices in Kolkata have risen by Rs 2.87 to reach Rs 113.51 per liter, while in Mumbai, the price is Rs 111.21 per liter.
In Chennai, petrol prices have seen an increase of Rs 2.46 per liter, bringing the current rate there to Rs 107.77.
Prior to this, petrol and diesel prices in India had also been hiked on Saturday, May 23. Petrol had become costlier by 87 paise per liter, and diesel by 91 paise per liter.
It is noteworthy that the first price hike of this month occurred on May 15, when petrol and diesel rates were raised by Rs 3 per liter. This was followed by a second hike of approximately 90 paise on May 19.
Following the recently concluded assembly elections in four states—West Bengal, Assam, Kerala, and Tamil Nadu—as well as the Union Territory of Puducherry, oil marketing companies announced price hikes to recoup their losses.
Petrol costlier by Rs 7.41, diesel by Rs 7.51 since May 15
After the conclusion of the elections, the first price hike for petrol and diesel—amounting to Rs 3 per liter—was implemented on May 15. Just a few days later, petrol prices were raised in two separate instances by 90 paise and 94 paise per liter; and today, May 25, marks the fourth instance of a price hike, with an increase of Rs 2.61 per liter.
In total, across these four instances, oil marketing companies have raised the price of petrol by Rs 7.41 per liter.
Similarly, through four separate hikes of Rs 3, 90 paise, 91 paise, and Rs 2.71 per liter, diesel prices have collectively risen by Rs 7.51 per liter.