Petrol price up by Rs 2.61, diesel by Rs 2.71, fourth increase in less than 2 weeks
Petrol prices were hiked by 2.61 per litre and the diesel by Rs 2.71 per litre on Monday, marking the fourth increase in less than two weeks, reported news agency PTI.
The prices were last hiked by up to 91 paise per litre on Saturday. It was the third increase after they were raised by Rs 3 a litre on May 15, followed by a 90 paise increase on May 19.
The prices have been raised partially to compensate for the pressure on state-run oil marketing companies in India, owing to the West Asia war.
The conflict has led to the closure of the Strait of Hormuz, which is a crucial waterway for the transit of nearly one-fifth of the world’s oil traffic. The closure has impacted markets worldwide and has resulted in an unprecedented global crisis. Crude oil prices have faced a steep increase since March 2026.
However, four states and one union territory had their assembly elections in late April. The results of these elections were declared on May 4. Prices in India did not see an increase till May 15.
After the increase today, the petrol price in Delhi has crossed the Rs 100 mark, reaching Rs 102.12/L.
