Petrol, Diesel, and CNG Prices Hikes Hit Consumers

NEW DELHI — Consumers across India are facing fresh financial strain as oil marketing companies (OMCs) announced a third hike in fuel prices within just eight days. Effective Saturday, petrol and diesel rates were increased by an average of 90 paise per litre, while compressed natural gas (CNG) prices saw a ₹1 per kg jump in parts of North India.

The Cumulative Impact

Since the current round of price adjustments began on May 15, the relentless upward trend has placed significant pressure on household budgets. In just over a week, consumers have seen a cumulative increase of approximately ₹4.80 per litre for both petrol and diesel. Meanwhile, CNG users in North India have been hit with a total hike of ₹4 per kg during the same period.

City-Wise Breakdown: Retail Prices on Saturday

The impact of the latest revision varies by region, with Kolkata witnessing the steepest increase among major metros:

City	Petrol (per litre)	Diesel (per litre)	CNG (per kg)
Delhi	₹99.51	₹92.49	₹81.09
Kolkata	₹110.64	₹97.02	—
Mumbai	₹108.49	₹95.02	—
Chennai	₹105.31	₹96.98	—

In Uttar Pradesh, CNG prices have reached ₹89.70 per kg in Ghaziabad and Noida, and ₹89.58 per kg in Meerut.

Global Instability Drives Local Costs

Industry experts point to the ongoing conflict in West Asia as the primary catalyst for the price volatility. The disruption in global energy supplies has kept crude oil prices elevated, directly impacting Indian markets. Data indicates that India’s crude oil basket averaged $107.96 per barrel through mid-May, while Brent crude futures closed higher at $104.25 per barrel this past Friday.

Indraprastha Gas Limited (IGL), the largest city gas distributor in North India, attributed the CNG hikes to the necessity of offsetting rising input gas costs. In a statement issued via social media, IGL noted that the retail price revision was also necessitated by the “steep appreciation” of the U.S. dollar against the rupee, which has exacerbated the cost of imported gas.