Fuel prices in India have gone up after a long period of stability, with petrol and diesel becoming costlier by ₹3 per litre across the country. The revision announced on Friday ends a nearly four-year pause in regular fuel price changes by state-run oil marketing companies.
For consumers, the increase means paying noticeably more at fuel stations. In the national capital, petrol now costs ₹97.77 per litre, up from ₹94.77. Diesel has also climbed to ₹90.67 per litre. The impact is even more visible in some metro cities, where prices are already higher due to state taxes. In Kolkata, petrol has crossed the ₹108 mark and is now selling at ₹108.74 per litre. Mumbai motorists are paying ₹106.68 per litre, while Chennai has seen petrol rise to ₹103.67.
Petrol and Diesel Prices Rise Across Major Cities
Following the latest revision, fuel prices have climbed across major Indian cities. The increase comes as oil companies begin passing on part of the burden created by rising international crude prices.
Updated Petrol Prices
| City | Revised Price | Increase |
|---|---|---|
| Chandigarh | ₹94.00 | +₹3.00 |
| Delhi | ₹97.77 | +₹3.00 |
| Himachal Pradesh | ₹94.20 | +₹2.80 |
| Kolkata | ₹108.74 | +₹3.29 |
| Mumbai | ₹106.68 | +₹3.14 |
| Chennai | ₹103.67 | +₹2.83 |
Updated Diesel Prices
Other regions have also recorded a similar jump. Chandigarh’s petrol price has moved to ₹94 per litre, while several hill states like Himachal Pradesh are seeing petrol close to ₹94.20 per litre. Diesel prices have also increased in parallel, with Kolkata nearing ₹95.13 per litre and Chennai touching around ₹95.25 per litre.
| City | Revised Price | Increase |
|---|---|---|
| Chandigarh | ₹82.45 | +₹3.00 |
| Delhi | ₹90.67 | +₹3.00 |
| Himachal Pradesh | ₹86.26 | +₹2.71 |
| Kolkata | ₹95.13 | +₹3.11 |
| Mumbai | ₹93.14 | +₹3.11 |
| Chennai | ₹95.25 | +₹2.86 |
The hike brings relief to oil companies that have been absorbing higher input costs for several years.
The decision to revise prices comes after a long stretch during which fuel retailers kept rates mostly unchanged despite fluctuations in global oil markets. Industry insiders say companies had been absorbing rising input costs for quite some time, which made it increasingly difficult to maintain the price freeze.
Fuel prices in India had effectively remained frozen since April 2022. At that time, the government and oil companies stopped the daily revision system because global crude oil prices had become extremely volatile after the Russia-Ukraine conflict disrupted energy markets worldwide. Since then, consumers saw very few changes at petrol pumps. The only major revision happened in March 2024 when prices were reduced by ₹2 per litre ahead of the Lok Sabha elections.
However, the global oil situation has changed again in recent months. Crude oil prices, which were averaging around $69 per barrel earlier this year, have surged to more than $113 per barrel. Analysts attribute the spike mainly to rising geopolitical tensions in West Asia, including the ongoing conflict involving Iran. Any disruption or fear of disruption in this region immediately affects global oil supply expectations, pushing prices higher.
For Indian oil companies, the sharp increase in crude prices has tightened margins. Public sector retailers such as Indian Oil, Bharat Petroleum and Hindustan Petroleum had earlier reported heavy losses during the 2022–23 period because they were selling fuel below market cost while global oil prices were rising rapidly. Although some of those losses were offset when crude prices cooled down later, the latest spike has once again put pressure on their finances.
Officials say the current hike is only a partial adjustment to reflect rising international costs. Even after the increase, retail fuel prices have not fully matched the global surge in crude rates.
For ordinary consumers, though, the change will be immediately noticeable. Higher fuel prices tend to push up transportation costs, which can eventually affect the prices of goods and services across the economy. Businesses that depend heavily on logistics and transport are expected to feel the impact first.
In some cities, authorities are already encouraging people to rely more on public transport to reduce fuel consumption. Discussions around work-from-home options and increased use of metro services have also resurfaced as a way to manage fuel demand.
Whether prices rise further will largely depend on global oil markets. If geopolitical tensions continue and crude prices remain elevated, experts say fuel rates in India could see more revisions in the coming months. For now, the ₹3 increase signals the end of a long freeze and a return to gradual adjustments linked to global energy trends.