Fuel prices witnessed a major jump across the country on Friday after the Centre announced an immediate increase of around Rs 3 per litre in petrol and diesel rates, ending nearly four years without a major retail fuel revision. The new prices came into effect instantly, catching commuters and transport operators off guard in several cities, including Mumbai.
Along with petrol and diesel, CNG prices were also increased by Rs 2, a move expected to raise transportation expenses and add pressure on household budgets already struggling with inflation.
In Mumbai, petrol prices climbed to Rs 106.68 per litre after an increase of Rs 3.14, while diesel rates rose by Rs 3.11 to reach Rs 93.14 per litre. The latest hike is likely to impact cab drivers, autorickshaw operators, delivery services and daily commuters, as fuel costs directly influence local transport fares and logistics expenses in the financial capital.
Among India’s major metro cities, Mumbai recorded one of the sharpest petrol price increases. In New Delhi, petrol prices increased to Rs 97.77 per litre and diesel to Rs 90.67. In Kolkata, petrol touched Rs 108.74 while diesel reached Rs 95.13. Meanwhile, in Chennai, petrol prices climbed to Rs 103.67 and diesel to Rs 95.25 per litre.
The increase comes amid mounting financial pressure on state-run oil companies following the sharp rise in international crude oil prices linked to tensions in West Asia. Earlier this year, fuel retailers had increased prices of premium-grade petrol and diesel, but rates for regular consumers had remained unchanged until the latest revision.
India’s three major public sector fuel retailers — Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum — have been facing growing under-recoveries as global crude oil prices continue to remain elevated.
