Petrol, Diesel Rates Raised Again As Global Oil Prices Remain Elevated

Oil marketing companies raised petrol prices by ₹2.6 per litre and diesel prices by ₹2.7 per litre on Sunday, pushing retail fuel prices higher across major Indian cities. The latest revision has taken cumulative increases in fuel prices to nearly ₹8 per litre over the last 10 days.

In Delhi, petrol is now retailing at ₹102.12 per litre, while diesel prices have climbed to ₹95.20 per litre. Fuel rates in cities such as Hyderabad, Kolkata and Mumbai remain significantly higher because of local taxes and freight-related components.

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According to reports, state-owned fuel retailers are currently incurring daily losses of around ₹1,600-1,700 crore due to the sharp rise in crude oil prices. The cumulative impact over the past 10 weeks has crossed ₹1 lakh crore.

Latest Petrol And Diesel Prices On May 25

The latest hike comes at a time when global crude oil markets remain volatile. Oil prices had surged sharply after geopolitical tensions escalated in West Asia following military action involving Iran earlier this year.

Although crude oil prices declined during the previous trading session, they continue to remain elevated compared to pre-conflict levels. Oil prices are up more than 30% since the United States and Israel struck Iran on Feb. 28, reports have shown.

On Monday, West Texas Intermediate crude futures fell nearly 5% to $91.65 per barrel. Brent crude futures also declined around 5% to $98.30 per barrel after comments from U.S. President Donald Trump regarding a pause in planned military action against Iran to allow further negotiations.

Retail fuel prices in India are largely linked to international crude oil rates because the country imports most of its crude oil requirement. Any rise in global energy prices directly increases procurement and refining costs for oil marketing companies.

Even the rupee-dollar parity influences domestic rates for fuels since crude oil costs will rise due to a weakening rupee relative to the American dollar. Moreover, central excise and value-added tax add substantially to the total cost, making the prices of fuel vary according to state and locality.