India hikes petrol, diesel prices for fourth time in 10 days: CHECK city-wise rates here

India announced an increase in fuel prices once again on Monday (May 25) with petrol been hiked by ₹2.61 per litre and diesel prices been hiked by ₹2.71 per litre. The hikes are applicable with immediate effect across the country. The repeated hikes come against the backdrop of increase in global crude oil prices and a weakening rupee, both of which have raised import costs for oil marketing companies. The global crude oil price hike is a result of the Iran-US war and the blockage of Strait of Hormuz. India had kept the retail prices of both petrol and diesel largely unchanged for almost four years before the recent revisions earlier this month. With the latest revision, cumulative increases in petrol and diesel prices this month are almost Rs 7.5 per litre.

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CHECK city wise prices here

Following the latest fuel price revision, petrol prices in major metro cities have risen sharply, with Delhi recording a new rate of Rs 102.12 per litre, Kolkata at Rs 113.51, Mumbai at Rs 111.21 and Chennai at Rs 107.77 per litre. Diesel prices have also increased across the country, with the new rates standing at Rs 95.20 per litre in Delhi, Rs 99.82 in Kolkata, Rs 97.83 in Mumbai and Rs 99.55 per litre in Chennai.

Also Read: India fuel price hike: Petrol, diesel, CNG prices go up again; third price increase in 10 days. Here's how much you'll have to pay now

Last week, speaking about the impact of the West Asia conflict, ONGC Director (Exploration) Sushma Rawat noted that the crude oil prices have remained highly volatile amid uncertainty over the conflict. "Whenever there is a declaration that there is a peace accord, the crude prices start to dip. And when you realise that there is no solution, the prices go up again," Rawat told ANI. She added that India had so far shielded consumers from the full impact of the surge in global energy prices. "The government has given relief to the people for 76 days, during which the price has not increased. The price has increased, because the OMCs were taking a hit of almost Rs 1,000 crore a day. How long do you sustain that?" she asked.