Petrol, Diesel Prices Steady Today After Recent Hikes; Hyderabad Highest
نظرة سريعة
- Fuel prices remained steady on Wednesday after recent hikes, with petrol and diesel rates seeing an increase of up to 90 paise per litre.
- Global crude markets are on edge due to geopolitical tensions.
- Hyderabad recorded the highest petrol price at Rs 111.84 per litre, while Thiruvananthapuram saw the highest diesel rate at Rs 100.59.
ملخص مُنشأ بالذكاء الاصطناعي
لماذا يهم
Fuel prices in India have seen recent hikes, and are being closely watched due to geopolitical tensions affecting global crude oil markets. State-run oil marketing companies are concerned about potential losses from selling fuel below market prices.
Petrol, Diesel prices today: Fuel prices remained steady on Wednesday after recent hikes, with petrol and diesel rates seeing an increase of up to 90 paise per litre. Global crude markets are on edge due to geopolitical tensions. Hyderabad recorded the highest petrol price at Rs 111.84 per litre, while Thiruvananthapuram saw the highest diesel rate at Rs 100.59.
The prices of petrol and diesel remained unchanged on May 20, Wednesday across major Indian cities after the fuel rates saw a hike of 90 paise per litre yesterday. Last week, the fuel prices were raised by Rs 3 per litre. The prices of petrol and diesel remain in key focus after US President Donald Trump threatened fresh strikes against Iran in the coming days, keeping global crude markets on edge.
After the elections, expectations grew that petrol and diesel prices could be raised to help state-run oil marketing companies recover some of their losses, especially as Brent crude prices have surged sharply following the US and Israeli strikes on Iran in late February. Since then, crude oil prices have witnessed a steep rally amid rising geopolitical tensions in the Middle East.
Petrol, Diesel prices today
In Delhi, petrol is now retailing at Rs 98.64 per litre, up by 87 paise, while diesel costs Rs 91.58 per litre after a hike of 91 paise. Mumbai saw petrol prices rise by 91 paise to Rs 107.59 per litre, with diesel up 94 paise at Rs 94.08 per litre. Last week, Petroleum Minister Hardeep Singh Puri on Tuesday said public sector oil marketing companies may not be able to sustain daily losses of Rs 1,000 crore from selling petrol and diesel below market price.
CityPetrol (Rs/Litre)Diesel (Rs/Litre)Delhi98.6491.58Mumbai107.5994.08Kolkata109.7096.07Chennai104.5196.13Chandigarh98.1286.09Hyderabad111.8499.95Jaipur108.5593.81Bengaluru107.1695.04Lucknow98.4091.72
Hyderabad Sees Highest Petrol Price
Following the latest fuel price hike, Hyderabad recorded the highest petrol price in the country, with rates reaching Rs 111.84 per litre as of May 19. Thiruvananthapuram was not far behind, where petrol was priced at Rs 111.70 per litre.
Live Events
Meanwhile, Chandigarh continued to have the lowest petrol price among the major cities listed, at around Rs 98.10 per litre. Petrol prices in Lucknow and Noida also remained comparatively lower than several metro cities, standing at Rs 98.42 and Rs 98.65 per litre respectively.
For diesel, Thiruvananthapuram registered the highest rate in the country at Rs 100.59 per litre, followed by Hyderabad where diesel was priced at Rs 99.95 per litre.
أسئلة مفتوحة
- Will fuel prices increase further?
- What is the extent of the losses faced by oil marketing companies?
- How will the geopolitical tensions in the Middle East impact crude oil prices in the long term?
