Fuel prices raised across India for the fourth time in 10 days; Check latest rates here

Fuel prices raised across India for the fourth time in 10 days; Check latest rates here


Petrol and diesel prices were hiked yet again on Monday, May 25. In this latest tranche of hikes, the price of petrol has been hiked by ₹2.61 per litre. The diesel, meanwhile, has been hiked by ₹2.71 per litre.

In the past week, the price of petrol has increased by ₹4.35 per litre. And when it comes to diesel, the weekly hike amounts to ₹4.53 per litre.

This hike at the beginning of the week marks the fourth hike in the month of May alone. This round of price hikes is the first in nearly 4 years. The first tranche of the same came on May 15, making this the fourth hike in about 10 days.

In addition to that, the price of CNG has also seen a rise, with the latest round of hike coming on May 23, when the price of retail CNG was hiked by ₹1/kg. Taking the total increase to ₹4/kg, with three hikes in May.

Check the chart below for the updated prices:

This comes at a time when the global oil space has been in the middle of turmoil that engulfed the supply chain, with the price of Brent Crude hovering above the $100 mark.

Meanwhile, it also needs to be noted that the government was said to be bearing losses of about 24 per litre on petrol and 30 per litre on diesel during the height of the crude rise. Sources claim that although significant under-recoveries are still being absorbed, the May 15 and May 19 price modifications are estimated to have decreased OMC losses by about 25%, as previously reported.

 

Also Read: Petrol, diesel prices hiked for third time in May: Check latest rates

 





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