Petrol & Diesel Prices June 9: Check Fuel Price in Delhi, Mumbai, Bengaluru, Kolkata & Other Cities Today | Today’s news
Gasoline and diesel prices today: Fuel prices were steady on Tuesday, June 9, following the latest price hike on Monday, May 25, when oil marketing companies (OMCs) hiked 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.
Fuel prices in India are at their highest level since May 2022 after remaining largely frozen for more than two years. ₹A reduction of 2 per liter in March 2024.
War in West Asia affects fuel prices in India
That’s because the latest increase was the fourth such move in less than two weeks, due to a delayed transmission amid soaring global oil prices in the wake of the war in West Asia.
The war in West Asia disrupted global energy supplies, including supplies to India. Due to the three-month-long conflict, 40% of India’s oil imports, 65% of its natural gas and 90% of its LPG supplies, which came from countries in the Persian Gulf region, were disrupted.
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.
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 9 (Tuesday) here below:
Fuel prices expected to fall: Minister Hardeep Puri
Union Petroleum Minister Hardeep Singh Puri told CNN-News18 that he expects fuel prices to come down in the coming months as “sufficient supplies will be available” amid the war situation. “Oil prices cannot remain at their current level for “very long” and are expected to decline in the coming months,” the minister says.
He added that additional supplies from Canada and the United States should ease some of the shortages, but added that the situation could reverse if the war widens, Reuters reported. He added that India has 76-80 days of oil and gas reserves. Before the war, India imported over 40% of its crude oil and nearly 90% of its LPG cooking supplies.
OMCs have hiked 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.
Since the war affected access to the Strait of Hormuz and cut off supplies, global oil has risen 40% to around $100/barrel. About one-fifth of the world’s oil and gas reserves were transported by the vital waterway.
(With inputs from Reuters)
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