Petrol & Diesel Prices June 22: Check Fuel Price in Chennai, Bengaluru, Delhi, Kolkata, Mumbai & Other Cities Today | Today’s news
Petrol and Diesel Prices Today: Fuel prices were stable today on Monday, June 22 after the latest price hike on Monday, May 25 when the Oil Marketing Companies (OMCs) increased the price of both petrol and diesel by more than ₹2.50 per liter. Notably, the cumulative price hike since May 15 has almost increased the cost of fuel ₹7.5 per liter.
Notably, petrol and diesel prices in India are at their highest levels since May 2022 after remaining largely frozen for more than two years, except ₹A reduction of 2 per liter in March 2024.
The US-Iran war has hit fuel prices in India
The rise in prices was the fourth in less than two weeks, driven by a delayed transition due to the war in West Asia, although demand for global oil remains strong. Almost one-fifth of the world’s oil and gas reserves are transported through the vital waterway in the Strait of Hormuz, which is controlled by Iran.
The US-Iran war has disrupted global energy supplies, including supplies to India. 40% of India’s oil imports, 65% of natural gas and 90% of LPG supplies that came from the Gulf region were disrupted due to the war.
Last month, Union Petroleum Minister Hardeep Singh Puri said he was optimistic that fuel prices would come down in the coming months, assuring that “sufficient supplies are available” amid the war situation. “Oil prices cannot remain at their current levels for very long and are expected to decline in the coming months,” he said.
Puri added that additional supplies from Canada and the United States to India should ease some of the shortage, but added that the situation could reverse if the war widens, Reuters reported.
Change in petrol and diesel prices
Gasoline prices have risen ₹2.61/litre and diesel would ₹2.71/litre on May 25 in their fourth such hike.
In Delhi, petrol prices rose to ₹102.12/liter from ₹99.51/litre while diesel climbed to ₹95.20/liter from ₹92.49/liter.
Overall, OMCs have raised fuel prices four times since May to ease demand and maintain supply. Gasoline costs about 7.8% more, while diesel prices are 8.6% higher, he added.
See the entire municipal price list for petrol and diesel
Check the complete list of petrol and diesel prices in major Indian cities today, June 22 (Monday) here below:
