Mumbai Petrol Nears ₹111 as Prices Spike

State-run oil marketing companies raised petrol and diesel prices again on Monday, May 25, extending a run of increases that began earlier this month. The latest revision took Mumbai’s petrol price to about ₹111.21 a litre, according to multiple Indian media reports citing public-sector fuel retailers. Petrol in Delhi crossed ₹100 a litre after the same round of increases, while diesel in Mumbai moved close to ₹98. The move was the fourth increase in 10 days, after an earlier ₹3-a-litre hike on May 15 and subsequent smaller revisions on May 19 and May 23. ### How much did prices rise in the latest revision? Monday’s revision added about ₹2.61 a litre to petrol and ₹2.71 a litre to diesel across major cities, according to reports published on May 25. The Hindu reported that the average increase was about ₹2.80 a litre nationwide, while News18 and other outlets gave city-level changes for petrol and diesel. (thehindu.com) Mumbai’s pump rate for petrol rose to ₹111.21 a litre after the latest increase, Onmanorama reported, citing public-sector fuel station prices. Diesel in Mumbai rose to ₹97.83 a litre in the same revision. ### When did this run of fuel hikes begin? (thehindu.com) May 15 was the first major move in the current cycle, when oil companies raised petrol and diesel by ₹3 a litre, ending more than four years without a broad increase in retail pump prices, according to reports from ABP Live, Times of India and CNBC-TV18. That increase took Delhi petrol to ₹97.77 a litre and diesel to ₹90.67 a litre. (onmanorama.com) May 19 brought a second increase of about 90 paise a litre, NDTV reported. May 23 brought another rise of 87 paise for petrol and 91 paise for diesel, according to reports published before Monday’s increase. Monday’s move was then counted as the fourth hike in less than two weeks. (news.abplive.com) ### Why are fuel retailers increasing prices now? Indian media reports linked the revisions to higher global crude oil prices, pressure on state-run fuel retailers and a weaker rupee. The New Indian Express said the May 15 increase came as state-run oil companies faced mounting losses from a surge in crude prices tied to conflict in West Asia. The Economic Times similarly said higher international crude costs and tighter supplies were behind the increase. (ndtv.com) Outlook Business reported on May 19 that crude staying above $110 a barrel kept alive the risk of further fuel increases in India. Domain-b cited an S&P Global Ratings warning that elevated crude prices and shipping risks could pressure Indian Oil’s fuel marketing margins. Those reports described the market backdrop; they did not announce company guidance on future retail prices. (newindianexpress.com) ### Why does Mumbai pay more than Delhi? Mumbai’s retail fuel price is higher than Delhi’s because local levies and other state-level charges differ by city and state, according to multiple city-rate reports. Onmanorama said fuel prices vary across states because of differences in local taxes. That helps explain why Mumbai petrol is above ₹111 while Delhi petrol is at ₹102.12 after the same national revision. (outlookbusiness.com) Indian Oil’s retail fuel price page says daily price changes take effect at 6 a.m. and that consumers can check indicative city prices through its published channels. The company’s station locator pages also display current pump prices at individual outlets, although rates can vary by location and product grade. ### Where can consumers check the next move? (onmanorama.com) Indian Oil says fuel prices are revised daily at 6 a.m., making the next scheduled update Tuesday morning, May 26. Public-sector retailers including Indian Oil publish city and outlet-level prices on their official price and locator pages, which remain the main reference point for any further change. (iocl.com)