Petrol, diesel prices on June 22: Check fuel cost in Chennai, Bengaluru, Delhi, Kolkata, Mumbai and other cities today
Petrol and diesel prices today: Fuel prices were steady today on Monday, 22 June, following the last price hikes on Monday, 25 May, when oil
Petrol and diesel prices today: Fuel prices were steady today on Monday, 22 June, following the last price hikes on Monday, 25 May, when oil marketing companies (OMCs) increased the cost of both petrol and diesel by more than ₹2.50 per litre. Notably, the cumulative price hikes since 15 May have increased fuel costs of close to ₹7.5 per litre. Notably, the price of petrol and diesel in India are at their highest levels since May 2022 after remaining largely frozen for more than two years, barring a ₹2-per-litre cut in March 2024. US-Iran war hits fuel prices in India The price increase was the fourth in less than two weeks prompted by delayed pass-through due to the war in West Asia even as demand for global crude oil remains high. Close to one-fifth of the world's oil and gas supplies is transported through the vital Strait of Hormuz waterway which is being controlled by Iran.
The US-Iran war has disrupted global energy supplies, including those to India. India's 40% of crude imports, 65% of natural gas and 90% of LPG supplies, which came from countries in the Gulf region, were disrupted due to the war. Union Oil Minister Hardeep Singh Puri last month said he is optimistic that fuel prices to drop in the coming months and assured that “enough stocks are available” amid the war situation. “Oil prices cannot remain at their current height for a very long time and are expected to fall in the months ahead,” he stated. Puri added that additional supplies from Canada and the United States to India, are expected to mitigate some shortage but added that the situation may turn if the war expands, Reuters reported. Meanwhile, India's shipping minister said on Saturday that three Indian-flagged tankers carrying more than 860,000 metric tons of oil had safely crossed the Strait of Hormuz, which handles about a fifth of global oil supply.
Also Read | 8th pay commission: Meet Chairperson Ranjana Desai and other members Change in petrol and diesel prices Petrol prices rose by ₹2.61/litre and diesel by ₹2.71/litre on 25 May in their fourth such increase. In Delhi, petrol prices rose to ₹102.12/litre from ₹99.51/litre, while diesel climbed to ₹95.20/litre from ₹92.49/litre. Overall, OMCs have hiked fuel prices four times since May to temper demand and maintain supply. Petrol costs around 7.8% more, while diesel prices are 8.6% higher, it added. Check full city-wise petrol and diesel price list Check full list of petrol and diesel prices in major Indian cities today, on 22 June (Monday) here below City Petrol Price Diesel Price
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