Petrol, diesel prices increased again; check latest fuel rates in Delhi, Mumbai, Kolkata, Chennai

Petrol and diesel prices were hiked by up to 96 paise per litre on Tuesday, May 19, marking the second increase in less than a week.

Petrol, diesel price today: Check latest fuel rates in Delhi, Mumbai, Kolkata, Chennai

In Delhi, petrol prices increased by 87 paise to ₹98.64 per litre, while diesel costs ₹91.58 per litre, up 91 paise.

In Mumbai, petrol retails at ₹107.59 per litre, higher by 91 paise, and diesel rose by 94 paise to ₹94.08 per litre.

Kolkata saw the steepest hike in petrol price at 96 paise to ₹109.70 a litre, while diesel became expensive by 94 paise to ₹96.07 per litre.

In Chennai, petrol prices climbed by 82 paise to ₹104.49 a litre, and diesel by 86 paise to ₹96.11 per litre.

Global crude prices have risen more than 50% since US-Israeli strikes on Iran on February 28 this year, and Tehran's retaliation fractured flows through the Strait of Hormuz, a key route for global oil shipments.

Despite the increase, retail fuel rates were kept frozen at two-year-old rates until May 15, when fuel rates were raised by ₹3 per litre.

A ₹3-per-litre increase in fuel prices helped state-run oil marketing firms trim daily losses by nearly a quarter, reducing overall losses to around ₹750 crore per day from ₹1,000 crore, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said on Monday.

However, soaring global crude prices and a weak rupee continue to keep pump rates below cost-recovery levels.

The May 19 petrol and diesel price increase will further help oil marketing companies cut their losses.