By Admin 
- Petrol and diesel prices increased for the third time in the country, up by Rs 5.
- The burden of international oil prices was passed on to the customers.
- Rupee weakened, import cost increased, impact on inflation.
- Increase of Rs 5 per liter from May 15 till now.
Petrol-Diesel Price Today on May 24: Petrol and diesel prices were increased for the third time in less than 10 days in the country on Saturday, taking the total increase in fuel prices at the retail level to about Rs 5 per liter. Yesterday, petrol prices were increased by 87 paise per liter and diesel prices were increased by 91 paise.
This continuous increase in retail fuel prices after no change for a long time is an attempt by government companies to pass on the burden of rising international oil prices to the customers. This increase has come at a time when crude oil prices have increased in the global market, refining margins are decreasing and the rupee has weakened, leading to a huge increase in the cost of imports.
City wise latest prices of petrol and diesel
| City | Petrol price (per litre) | Diesel price (per litre) |
| Delhi | Rs 99.51 | Rs 92.70 |
| Mumbai | Rs 108.45 | Rs 92.49 |
| Kolkata | Rs 110.64 | Rs 97.02 |
| Chennai | Rs 105.33 | Rs 97.00 |
| Bengaluru | Rs 108.09 | Rs 95.99 |
| Bhopal | Rs 111.71 | Rs 96.85 |
| Bhubaneswar | Rs 105.95 | Rs 97.59 |
| Chandigarh | Rs 98.97 | Rs 86.94 |
| Dehradun | Rs 97.95 | Rs 93.23 |
When and how much did prices increase in 10 days?
Petrol and diesel prices were increased by Rs 3 per liter on May 15 and by 90 paise per liter on May 19. With this latest increase, the prices of petrol and diesel have increased by about Rs 5 per liter since the government oil marketing companies lifted the ban on price changes on May 15. This has increased concerns about inflationary pressure in the entire economy and increase in transportation costs.
Let us tell you that the prices of fuel at the pump are decided by a combination of global, economic and domestic factors. At its core is the international price of crude oil – a key raw material for both petrol and diesel – which has the biggest impact on the price consumers ultimately pay.
The rupee-dollar exchange rate is another important factor because India is highly dependent on crude oil imports. When the rupee weakens against the dollar, the cost of purchasing crude oil increases, which can directly result in an increase in the retail prices of the fuel.
Also read:
Petrol-Diesel: Petrol became cheaper by Rs 6, diesel rate also reduced; Know where the government gave relief?