Overview
- State-run OMCs raised petrol and diesel for the fourth time in under two weeks, taking Delhi prices to Rs 102.12 per litre for petrol and Rs 95.20 per litre for diesel after Monday’s increase.
- Indraprastha Gas Limited raised CNG by Rs 2 per kg on Tuesday, the fourth CNG hike since May 15, lifting Delhi CNG to Rs 83.09/kg and directly hitting commuters and city transport fleets.
- The cumulative rise in petrol and diesel since May 15 is about Rs 7.5 per litre and CNG has climbed roughly Rs 6–7/kg in the same span as retailers try to cut mounting losses.
- Petroleum ministry officials say the moves cut OMC daily losses from roughly Rs 1,000 crore to about Rs 600 crore, and the Finance Ministry says further excise cuts would cost around Rs 1 lakh crore in revenue.
- Analysts link the pass-through to a more than 50% jump in global crude since late February after strikes and shipping disruptions in West Asia, and they warn the cycle could push up logistics costs and broader inflation if oil stays high.