

CHENNAI: The Centre on Monday (May 25) increased petrol and diesel prices by around Rs 2 per litre, the fourth increase in less than two weeks that extended a delayed pass-through of soaring global crude oil costs triggered by the Iran conflict.
Following this, petrol prices in Chennai have gone up by Rs 2.04 per litre and diesel by Rs 2.15 per litre. Now, one litre of petrol costs Rs 107.77, while diesel is priced at Rs 99.55 per litre in the city.
Earlier on Sunday (May 24), petrol was being sold at Rs 105.73 per litre and diesel at Rs 97.40 per litre in Chennai.
In Delhi, petrol prices rose to Rs 102.12 per litre from Rs 99.51, while diesel climbed to Rs 95.20 from Rs 92.49.
The latest revision on May 25 marks the fourth fuel price hike this month, following increases on May 15, 19 and 23.
Until this month, fuel prices had largely remained unchanged since April 2022, except for a Rs 2 per litre reduction announced in March 2024 ahead of the national elections.
The hike came as global oil prices fell sharply amid tentative hopes for a deal to end the US-Israel war on Iran. Brent crude, the primary benchmark for global oil prices, fell more than 5 per cent after the US and Iran agreed in principle to reopen the Strait of Hormuz.
Global crude oil prices had surged more than 50 per cent since late February following US-Israeli strikes on Iran and disruptions to shipping through the Strait of Hormuz, a key global oil transit route.
State-run retailers had delayed passing on higher input costs for weeks, a move the government said was intended to shield consumers from inflation. Opposition parties, however, accused the administration of holding back price increases until after key state elections.
The May 15 increase came after the ruling Bharatiya Janata Party (BJP) expanded its electoral footprint by winning three of five state and UT elections, including West Bengal.
The increase varies across cities due to differences in local taxes.
Kolkata: Petrol prices increased by Rs 2.86 to Rs 113.51 per litre, while diesel went up by Rs 2.80 to Rs 97.83 per litre.
Mumbai: Petrol prices increased by Rs 2.73 to Rs 111.21 per litre, while diesel went up by Rs 2.81 to Rs 97.93.
Chennai: Petrol prices climbed by Rs 2.04 to Rs 107.77 per litre, while diesel rates increased by Rs 2.15 to Rs 99.55 per litre.