State-run oil marketing companies raised petrol and diesel prices by ₹3 per litre on Friday, ending a four-year freeze on fuel price revisions. The move came just days after Prime Minister Narendra Modi urged citizens to conserve fuel and foreign exchange by reducing consumption amid global tensions.

In Delhi, petrol now costs ₹97.77 per litre, up from ₹94.77, while diesel increased from ₹87.67 to ₹90.67 per litre. However, the hike varied across cities due to local levies. In Kolkata, petrol rose by ₹3.29 to ₹108.74 per litre, while Mumbai saw an increase of ₹3.14 to ₹106.68. Chennai’s petrol prices climbed by ₹2.83 to ₹103.67 per litre. Diesel followed a similar pattern, with Kolkata’s prices rising by ₹3.11 to ₹95.13, Mumbai’s by ₹3.11 to ₹93.14, and Chennai’s by ₹2.86 to ₹95.25 per litre.

Did You Know? This price adjustment marks the first revision in fuel rates by state-owned companies after a four-year period without changes.

The increase follows Union Petroleum Minister Hardeep Singh Puri’s earlier indication that a price revision was imminent. Speaking at a Confederation of Indian Industry (CII) event in New Delhi on Tuesday, Puri stated that the government would have to reassess fuel pricing. His remarks came after Prime Minister Modi’s appeals on Sunday and Monday to reduce fuel consumption to conserve foreign exchange and energy.

Expert Insight: The timing of this price hike—following the Prime Minister’s call for fuel conservation—raises questions about the government’s strategy. While the move aligns with market realities, it could test public sentiment amid calls for restraint. The variation in city-level increases suggests local factors, such as transportation costs and taxes, continue to play a significant role in retail pricing.

The decision may signal a shift in policy, as state-owned companies appear to be aligning prices more closely with global crude fluctuations. However, the government’s broader stance on fuel conservation—including promoting work-from-home measures—remains in tension with the economic pressures driving these adjustments.

Frequently Asked Questions

[Question 1]
Why did petrol and diesel prices increase now?

The price hike follows a four-year freeze on revisions by state-owned oil companies. The adjustment likely reflects rising global crude prices and the need to balance fiscal pressures with market realities.

[Question 2]
Will prices continue to rise?

While the source does not predict future changes, the government’s recent appeals for fuel conservation suggest a possible effort to manage demand. However, global crude trends and domestic policy decisions will determine the trajectory.

[Question 3]
Why do prices differ by city?

The variation is due to differences in local taxes and levies, which are applied on top of the base price set by state-owned companies.

With fuel prices now rising even as conservation efforts are urged, how do you see this balancing act playing out in your daily life?