Petrol and diesel prices rise further by about 90p, even as crude oil prices reach $120/barrel

New Delhi: After raising petrol and diesel prices by ₹3 following PM Modi’s appeal for austerity, the government has, in another surprise decision, hiked fuel prices further by another 90 paise, even as crude oil prices continue to rise further.

Following the conflict in the Middle East, oil prices have been rising steadily, with prices almost doubling from $60 a barrel to prices now reaching $120/barrel today. 

This hike has come at a time when India remains the last major economy to hike fuel prices, even as Oil Marketing Companies (OMCs) have had to bear losses in excess of ₹1,600 crore per day as oil prices rise. 

With the elections in Tamil Nadu, Kerala, West Bengal and Assam now over, the goverment now has room to raise prices, even as the hike varies widely across states due to their taxation rates. 

Fuel Rates Across Major Cities

Here’s how much petrol and diesel will cost at major Indian cities.