Petrol and Diesel Prices Hiked in Mumbai

India's state-run fuel retailers raised petrol and diesel prices by Rs 3 a litre on May 15, the first such retail increase in years, pushing Mumbai petrol to Rs 106.68 a litre and diesel to Rs 93.14. NDTV reported the increase across major cities, including Delhi, Kolkata and Chennai, as oil markets reacted to the Iran conflict and disruption around the Strait of Hormuz. (ndtv.com) Reuters reported the move was the first retail fuel price increase in four years. (ndtv.com) Mumbai was among the cities hit immediately because India's fuel retailers revise pump prices daily. (iocl.com) Indian Oil says daily changes take effect at 6 a.m., and city rates vary because of local taxes and freight. NDTV's Mumbai city price page showed petrol at Rs 106.68 and diesel at Rs 93.14 on May 15, up about Rs 3 from the previous day. ### Why did Mumbai's pump price jump on May 15? May 15 was the date state-run fuel retailers passed through part of the rise in global energy costs to consumers. NDTV said the Centre increased petrol and diesel prices by Rs 3 per litre as the Middle East war and the blockade of the Strait of Hormuz disrupted oil and gas supplies and pushed energy rates higher. (ndtv.com) Reuters separately reported that India raised retail fuel prices for the first time since the Iran war started. Government sources quoted by NDTV Profit said a Rs 3 increase would cover only a fraction of the losses being absorbed by oil marketing companies. (iocl.com) Those sources said the government and state-run fuel sellers were trying to shield consumers from the full impact of the global oil shock. ### What exactly are motorists in Mumbai paying now? Mumbai City petrol was listed at Rs 106.68 per litre on May 15, while diesel was listed at Rs 93.14, according to NDTV's city-level fuel tracker. The same page showed petrol at Rs 103.50 on May 14, implying a Rs 3.18 jump day-on-day, and diesel up by Rs 3.11. (ndtv.com) Across the four metros, NDTV reported petrol at Rs 97.77 in Delhi, Rs 108.74 in Kolkata and Rs 103.67 in Chennai after the increase. Diesel in Delhi was reported at Rs 99.67. (ndtvprofit.com) ### Was this caused by an excise-duty change or by pump-price revisions? May 15 brought two separate fuel-related actions. Reuters and NDTV reported a retail pump-price increase of Rs 3 per litre by state-run fuel retailers. Separately, India Today reported that the Finance Ministry notified changes in Special Additional Excise Duty on exports of petroleum products, including a Rs 3 per litre levy on petrol exports, effective May 16. (ndtv.com) Open Magazine and WebIndia123, citing official notifications, also reported central excise revisions effective May 1 while saying retail prices for consumers would remain unchanged at that point. (ndtv.com) Those reports indicate the Mumbai retail jump on May 15 was a later pump-price move rather than the direct result of the earlier duty notification. That is an inference based on the timing described in those reports. ### How often can these prices change from here? Indian Oil says petrol and diesel prices are revised daily at 6 a.m. and motorists can check indicative city prices through its fuel-price service or by SMS using a dealer code. (msn.com) That means Mumbai rates can move again on any subsequent morning if oil marketing companies change pump prices. NDTV's fuel-price pages also publish city-by-city updates, including recent daily changes for Mumbai. On May 15, that tracker showed the new Mumbai rates and the prior 10-day trend. ### Who said what about the next step? May 16 is the next dated milestone in the wider fuel story because Finance Ministry export-duty notifications cited by India Today took effect that day. (openthemagazine.com) For retail buyers, Indian Oil's next checkpoint remains the 6 a.m. daily revision cycle, when Mumbai motorists can see whether petrol stays at Rs 106.68 a litre or changes again. (indiatoday.in) (ndtv.com) (iocl.com)