The prices of petrol and diesel have been hiked by Rs 3 per litre as a rally in global oil prices due to ongoing conflict in the Middle East has impacted oil marketing companies significantly.
State-owned oil firms are incurring losses Rs 1,600-1,700 crore per day, over Rs 1 lakh crore in 10 weeks amid the crisis.
Petroleum Minister Hardeep Singh Puri on Tuesday said public sector oil marketing companies may not be able to sustain daily losses of Rs 1,000 crore from selling petrol and diesel below market price. Even the RBI Governor said, “If this is to continue for longer period of time, it is just a matter of time before the government will pass on some of the price increases,” at a conference hosted by the Swiss National Bank and the International Monetary Fund in Switzerland on Tuesday.
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Here's how much prices have changed in major metro cities :
Petrol prices have been hiked across major metro cities, with Delhi witnessing an increase of Rs 3, taking the retail price to Rs 97.77 per litre. In Kolkata, petrol prices rose by Rs 3.29 to Rs 108.74 per litre, while Mumbai saw a hike of Rs 3.14, pushing rates to Rs 106.68 per litre. Chennai recorded a Rs 2.83 increase, with petrol now retailing at Rs 103.67 per litre.
In Delhi, diesel rates were hiked by Rs 3 to Rs 90.67/litre. Kolkata saw a Rs 3.11 increase, taking prices to Rs 95.13/litre, while Mumbai recorded a similar Rs 3.11 hike, pushing diesel rates to Rs 93.14/litre. In Chennai, diesel prices rose by Rs 2.8, with the fuel now retailing at Rs 95.25/litre.
Petrol prices on May 15
- Petrol price in Delhi : Rs 97.77/litre
- Petrol price in Kolkata : Rs 108.74/litre
- Petrol price in Mumbai : Rs 106.68/litre
- Petrol price in Chennai : Rs 103.67/litre
- Petrol price in Hyderabad: Rs 110.85/litre
- Petrol price in Bengaluru: Rs 115.66/litre
Diesel prices on May 15
- Diesel price in Delhi : Rs 90.67/litre
- Diesel price in Kolkata : Rs 95.13/litre
- Diesel price in Mumbai : Rs 93.14/litre
- Diesel price in Chennai: Rs 95.25/litre
- Diesel price in Hyderabad : 98.96/litre
- Diesel price in Bengaluru: 94.1/litre
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