Petrol-Diesel prices hiked by Rs 3 per liter, Check the new rates 

Petrol Diesel Price Hike: People get major shock in early morning today on May 25. Amid ongoing tensions in the Middle East, the government has decided to increase the prices of petrol and diesel. Petrol and diesel prices have been increased by Rs 3 per liter. Petrol prices have risen from Rs 94.77 to Rs 97.81, while diesel prices have risen from Rs 87.67 to Rs 90.71. Consequently, the prices of both fuels have increased by Rs 3.04 per liter.

After the new increase, the price of regular petrol in the country’s capital Delhi has reached around Rs 97.77 per liter, while diesel has reached Rs 90.67 per liter. In Kolkata , The Petrol price is 108.74 and the Diesel price is 95.13, In Mumbai the Petrol and Diesel price reached Rs 106.68 and Rs 93.14. In Chennai Petrols Price is Rs 103.67 and Diesels price is Rs 95.25.

Retail oil prices issued by state-owned oil firms on Friday morning indicate shifts throughout the nation. The new rates took effect on Friday evening. Oil companies had earlier reported daily losses of around Rs 1,000 crore because of elevated crude oil prices. The Petroleum Minister noted that without an increase in retail oil prices, oil companies’ losses could surpass Rs 1 lakh crore within just one quarter. Nevertheless, the rise in fuel prices for petrol and diesel is slight when compared to the losses.

Fresh rates are published daily at 6 a.m

Petrol and diesel rates are updated daily at 6 a.m. The updated rates will take effect at 6 a.m. The price of petrol and diesel nearly doubles from the original cost after including excise duty, dealer commission, VAT, and other charges. This is the reason petrol and diesel costs seem so elevated.

There were indications of a rise 

Earlier this week, Hardeep Singh Puri, the Union Petroleum and Natural Gas Minister, admitted that due to ongoing global unpredictability, a potential rise in fuel prices cannot be dismissed. He observed that fuel prices for petrol and diesel have remained unchanged for the last four years, with the most recent hike occurring in 2022. He remarked that oil marketing companies (OMCs) are experiencing growing financial strain and their under-recovery is anticipated to arrive at ₹2 lakh crore. Petrol and diesel prices have remained stable since May 2022, following tax cuts by the central government and several states. Although global markets fluctuate, prices for Indian consumers have remained relatively stable.