Petrol and diesel prices in major Indian cities rose significantly on Friday following a fresh increase of over Rs 3 per litre by state-run oil companies. This hike is attributed to the surge in global crude oil prices and concerns related to the ongoing crisis in West Asia. In Hyderabad, petrol prices reached Rs 110.89 per litre, while diesel rates in Thiruvananthapuram climbed to Rs 99.63 per litre.
The recent price revision marks the first substantial change in fuel prices since May 2022, despite the volatility in international crude oil markets during this period. Oil marketing companies pointed to mounting losses from increased crude procurement and refining costs as the main reason behind the price adjustment. Petrol prices across the country saw an increase ranging from Rs 3 to Rs 3.46 per litre, while diesel prices rose by Rs 3 to Rs 3.56 per litre, varying based on state and local taxes.
In the national capital, petrol prices surged by Rs 3 to Rs 97.77 per litre, with diesel prices also rising to Rs 90.67 per litre after a similar hike. Mumbai residents are now paying Rs 106.64 per litre for petrol, following a Rs 3.10 increase, while diesel prices climbed by Rs 3.11 to Rs 93.14 per litre.
