Petrol, diesel prices hiked sharply across India: Rates up by over Rs 3 per litre each

Fuel prices surged sharply across India on Friday after oil marketing companies raised petrol and diesel rates by around Rs 3 per litre, pushing pump prices close to record highs in several major cities and adding to concerns over inflation and transportation costs.

Petrol prices have been raised by Rs 3.14 per litre, taking rates up to Rs 97.77 per litre, while diesel prices climbed by Rs 3.11 per litre to as high as Rs 90.67 per litre, according to the latest retail price revisions.

Fuel prices across major Indian cities:

Under the revised rates, regular petrol will now cost between Rs 94.77 and Rs 97.91 per litre across different states and cities. Premium petrol prices have moved into the Rs 105.14–107.14 per litre range after the hike.

Diesel prices have also risen significantly, with regular diesel now retailing between Rs 87.67 and Rs 90.78 per litre depending on local taxes and freight charges.

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The latest revision comes amid rising global crude oil prices and continued geopolitical tensions in West Asia, which have increased pressure on international energy markets. Oil companies said the higher input costs have forced them to partially pass on the burden to consumers.

The increase is expected to have a cascading impact on household expenses, freight movement and public transport fares, particularly because diesel remains the primary fuel used by the logistics and agricultural sectors.

India, the world’s third-largest oil importer and consumer, had until recently avoided passing on the full impact of rising international crude prices to consumers. However, the latest increase signals mounting pressure on oil marketing companies as global energy costs continue to climb.

PM Modi pushes fuel conservation amid forex worries

The steep increase in fuel prices comes just days after Prime Minister Narendra Modi urged Indians to cut fuel consumption and conserve foreign exchange reserves as soaring global energy prices put pressure on the economy.

In a series of appeals on Sunday, Modi asked citizens and businesses to revive work-from-home practices and online meetings — measures widely adopted during the COVID-19 pandemic — to reduce fuel usage.

“In the current situation, we must place great emphasis on saving foreign exchange,” the Prime Minister said.

He also encouraged greater use of public transport systems such as metro rail networks and urged people to carpool wherever possible to lower fuel demand.

Beyond fuel conservation, Modi called on citizens to avoid non-essential overseas travel for at least a year and reduce purchases of imported goods, particularly gold, which sees high demand during India’s wedding season.

The Prime Minister additionally appealed to households to cut edible oil consumption and asked farmers to reduce fertiliser use, framing the measures as both economically necessary and nationally responsible amid rising import costs.

The remarks had come at a time when India was still shielding consumers from the full impact of soaring international crude oil prices. Friday’s sharp hike in petrol and diesel rates now signals growing pressure on oil marketing companies and the government’s energy management strategy.