CHENNAI: After Nayara Energy, Shell India on April 1 raised fuel prices, with petrol and diesel seeing sharp hikes as private retailers move to offset losses amid crude prices staying above USD 100 a barrel.
In Bengaluru, petrol prices rose by Rs 7.41 per litre to Rs 119.85 (normal) and Rs 129.85 (Power). Diesel saw a steeper increase of Rs 25.01 per litre, with prices at Rs 123.52 (normal) and Rs 133.52 (premium), according to reports.
Similar price hikes are expected to reflect in Chennai and other major cities where private fuel outlets operate. Rates may vary slightly across cities due to local taxes.
The increase is attributed to rising global crude oil prices, driven by geopolitical tensions, particularly in West Asia. Crude prices have reportedly crossed the 100 USD per barrel mark.
While public sector oil companies have largely held retail prices steady, private players are said to have revised rates to offset mounting losses.
Meanwhile, the price of select premium, or branded petrol and diesel, which make up for 2-5 per cent of all auto fuels sold in the country, too, was increased by Rs 1.50 a litre to Rs 92.99 for 'Extra Green' diesel and by Rs 11 to Rs 160 a litre for 100 octane petrol (XP100).
The development comes even as aviation turbine fuel (ATF) prices were increased by 8.56 per cent, or Rs 8,289.04 per kilolitre, to Rs 1,04,927.18 per kl, marking the second straight monthly hike.
Commercial LPG prices were also raised on Wednesday by Rs 195.50 per 19-kg cylinder to Rs 2,078.50 in Delhi, while domestic LPG remains unchanged at Rs 913.
State-run oil firms revise ATF and LPG prices monthly based on global benchmarks and exchange rates.
(With PTI inputs)