Petrol, Diesel Prices Hiked By Over Rs 3 Across India As Crude Oil Tops $100

Petrol and diesel prices increased by more than Rs 3 per litre across India on Friday as oil marketing companies faced mounting financial pressure due to the ongoing crisis in West Asia and rising global crude oil prices.

The revised rates came into effect immediately across the country.

In Delhi, petrol prices rose by Rs 3.14 per litre to Rs 97.77, while diesel prices increased by Rs 3.11 per litre.

Oil companies also raised CNG prices by Rs 2 per kilogram, taking the new CNG rate in Delhi to Rs 79.09 per kilogram.

The fuel price hike comes amid a sharp rise in global crude oil prices, which crossed the $100 per barrel mark due to fears of prolonged supply disruptions linked to the escalating US-Iran conflict and tensions in the Middle East.

According to officials, state-run oil marketing companies have continued selling fuel at lower retail prices despite rising crude oil costs in an effort to shield consumers from a sudden burden.

The move has, however, led to heavy losses for fuel retailers. Union Petroleum Ministry official Sujata Sharma said under-recoveries on petrol, diesel and LPG have reached nearly Rs 30,000 crore per month as oil companies continue to absorb rising crude oil costs despite excise duty cuts by the Centre.

Petroleum Minister Hardeep Singh Puri warned that prolonged high crude oil prices could wipe out the FY26 profits of state-run oil firms. He said oil marketing companies are currently losing nearly Rs 1,000 crore daily, while IOC, BPCL and HPCL may together report losses of around Rs 1.2 lakh crore in Q1 FY27 if the trend continues.

Also Read: Gold, Silver Prices Slip After Import Duty Hike; Silver Falls Nearly 2%