State-run oil marketing companies (OMCs) on Saturday increased petrol and diesel prices for the third time in eight days, pushing fuel rates sharply higher amid rising global crude prices linked to the escalating Iran-US conflict.

In Delhi, petrol prices rose by 87 paise to Rs 99.51 per litre, while diesel climbed 91 paise to Rs 92.49 per litre. Since May 15, petrol and diesel prices in the national capital have increased by nearly Rs 5 per litre cumulatively.

Metro Cities See Fresh Spike

Among the four metros, Kolkata recorded the highest petrol price at Rs 110.64 per litre after a 94-paise hike, while diesel reached Rs 97.02. In Mumbai, petrol now costs Rs 108.49 and diesel Rs 95.02 per litre. Chennai residents will pay Rs 105.31 for petrol and Rs 96.98 for diesel after the latest revision.

The three public sector OMCs — Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum — revise fuel prices simultaneously across the country.

More Price Hikes Likely

Industry experts said fuel prices may continue to rise as OMCs are still facing revenue losses of Rs 8-10 per litre on petrol and diesel. International Brent crude prices remain above $100 per barrel and highly volatile due to geopolitical tensions in West Asia.

India imports over 88% of its crude oil requirement, making domestic fuel prices highly sensitive to global oil price movements and currency fluctuations.