Petrol Diesel Price Hike Today Highlights: Fuel rates up 90 paise/litre in Delhi, Bengaluru; second hike in days

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According to reports, sustained increase in crude oil prices may have a cascading effect on household budgets, overall retail inflation and transport costs.

Notably, the war in West Asia has impacted the key Strait of Hormuz, which has disrupted global fuel supplies and driven up crude prices. Further, brent crude prices have remained above $110/barrel in consecutive sessions, increasing pressure on India's import bill.

Petrol and diesel prices were raised by 90 paise per litre on Tuesday, marking the second hike in under a week. This is the second rate increase in less than a week. Prices were hiked by ₹3 a litre on Friday.

On fuel price hike, Congress MP Imran Masood says, “The prices of petrol and diesel will continue to rise. You have already seen the condition we are in, we are functioning according to America’s instructions, such as not buying cheap oil from Iran. The people of the country are paying the price for the shortcomings and failures of the Prime Minister. There is no focus on the real issues. That is why, to divert attention, there is always talk about Hindus and Muslims. At one time this issue is raised, and at another time fuel prices are increased. And I am telling you, prices will rise even more. The shock will come gradually.”

On the hike in petrol and diesel prices for the second time in a week, Congress MP Pramod Tiwari said, “This is just the trailer. The last time when the rate was increased by ₹3, I had said it would increase further. Now, the rates will go up further. What needs to be studied is, have petroleum products been exported from India? There is no need to increase fuel prices. When the price of crude oil dropped to ₹45, the fuel companies earned ₹30 lakh crore. It is upon the government to maintain the prices.”

Diesel prices increased by 99 paise per litre and petrol by 99 paise per litre in Telangana. Diesel in Telangana hiked to ₹99.95 per litre, and Petrol hiked to ₹111.88 per litre

Diesel prices increased by 94 paise per litre and petrol by 95 paise per litre in Karnataka. Diesel in Karnataka hiked to ₹95.04 per litre, and Petrol hiked to ₹107.12 per litre

DMK leader TKS Elangovan, in an interview with PTI, reacted to the ongoing petrol and diesel price hike, calling it “misrule of the BJP” amid rising fuel costs across the country.

BJP leader Amit Malviya, in an X post, defended the recent petrol and diesel price hike, stating that similar trends are being seen in other countries amid rising global crude oil prices and geopolitical tensions.

Congress President Mallikarjun Kharge on Tuesday criticised the Centre over the latest increase in petrol and diesel prices, alleging that the government was burdening common citizens while attempting to cover up its policy failures.

His remarks came after state-run oil marketing companies raised petrol and diesel prices for the second time in less than a week amid rising global crude oil prices.

Taking to social media platform X, Kharge said, "It has been barely four days since the last price hike, and the Modi government has once again raised the prices of petrol and diesel. After setting the stage with elaborate rhetoric and preaching the virtues of frugality, the process of shifting the burden of their own failures onto the public is currently in full swing."

In Chandigarh, another resident urged the government to control fuel prices, saying, “Prices should not rise further. Due to the war situation, we are definitely being affected. I request the government to reduce fuel and diesel prices.”

In Basti, Uttar Pradesh, a local resident said fuel prices were expected to keep rising. “What can we even say about it? Whatever we are getting is fine. It is manageable for those who are employed,” he remarked.

Another commuter in the national capital said he learned about the hike while leaving for duty in the morning. “Due to the ongoing war situation, conditions are similar across many countries,” he added.

State-run oil marketing companies increased petrol and diesel prices for the second time in less than a week amid rising global crude oil prices, drawing concern from people across Delhi and parts of Uttar Pradesh on Tuesday.

In Delhi, a garment seller said the fuel price hike was creating difficulties for people dependent on daily earnings. “I work in the clothing business and sell garments on the streets. My livelihood depends on daily earnings, and now the increase in fuel prices is creating problems for us,” he said

“Because of war, prices have increased,” Bihar minister Ram Kripal Yadav said on the Centre increasing fuel prices for the second time in a week, according to NDTV.

Bengal Minister Dilip Ghosh, reacting to the ongoing petrol and diesel price hike, said, “Everybody needs to adjust for the nation,” according to NDTV.

Oil companies usually prefer gradual increases instead of a sudden large hike because smaller revisions create less public backlash and help spread the burden over time. Fuel prices in India were earlier controlled by the government and revised every 15 days. However, after deregulation, oil companies gained the freedom to revise prices based on market conditions.

Despite that flexibility, companies have historically avoided steep one-time increases during crises and instead chosen phased revisions. That is why market watchers believe the current 90-paise increase may not be the last if crude oil prices remain high and the West Asia situation continues to affect global energy supply chains.

Energy analyst Dhaval Popat said a Re 1 increase per litre can improve the annual EBITDA of the three state-run oil companies by around ₹15,000 crore to ₹16,000 crore collectively. However, if crude prices remain elevated for longer, companies may still require a cumulative increase of nearly ₹10 per litre to fully offset losses.

Gurmeet Singh Chawla, Managing Director at Master Portfolio Services Ltd, said if Brent crude remains above $100 per barrel for an extended period, fuel prices may continue to rise over the next three to four months.

Analysts say a similar formula could now return. The reason is that international crude oil prices remain above $110 per barrel despite some correction, while disruptions in West Asia have increased concerns over energy supplies. India imports a large part of its crude oil needs, making domestic fuel prices highly sensitive to global developments.

Experts believe the ₹3 per litre increase announced earlier may not be enough to offset losses faced by oil marketing companies, according to India Today