Fuel Prices Surge in Kolkata Amid Global Oil Market Volatility
Kolkata fuel price today: Petrol prices rises to ₹ ₹108.74 per litre, diesel priced at ₹95.13per litre
Hindustan Times
Image: Hindustan Times
Fuel prices in Kolkata, West Bengal, have increased, with petrol now costing ₹108.74 per litre and diesel at ₹95.13 per litre. This hike follows a nationwide increase by state-owned oil companies due to rising global crude oil prices and supply disruptions, marking the end of a four-year price freeze.
- 01Petrol prices in Kolkata rise to ₹108.74 per litre.
- 02Diesel prices increase to ₹95.13 per litre.
- 03The price hike is attributed to rising global crude oil prices and supply disruptions.
- 04This marks the end of a four-year freeze on fuel price revisions.
- 05India has maintained relatively stable fuel prices compared to other major economies.
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In Kolkata, West Bengal, fuel prices have seen a significant increase, with petrol now priced at ₹108.74 per litre and diesel at ₹95.13 per litre. This adjustment follows a nationwide rise announced by state-owned oil marketing companies, driven by escalating global crude oil prices and disruptions in oil supply routes, particularly due to conflicts in West Asia and the blockade of the Strait of Hormuz. The recent hike ends a four-year period of price stability, during which petrol and diesel rates remained largely unchanged since April 2022, with only a minor reduction of ₹2 per litre in March 2024 ahead of the Lok Sabha elections. Officials noted that India had been one of the few major economies to keep retail fuel prices relatively stable despite fluctuations in global energy markets. Union Petroleum Minister Hardeep Singh Puri indicated that further price hikes might be necessary as oil companies face financial pressures. Prime Minister Narendra Modi has urged citizens to reduce fuel consumption amid rising energy costs.
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The rise in fuel prices could lead to increased transportation costs, affecting daily commuters and consumers of goods reliant on fuel for delivery.
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