Private fuel retailers in India have increased petrol prices by around Rs 7 per litre and diesel by as much as Rs 25 per litre, significantly raising costs for consumers from April 1. The move, led by Shell India after a similar revision by Nayara Energy, comes as companies attempt to offset mounting losses triggered by soaring global crude oil prices.
Sharp Hike Led By Private Players
Shell India has revised fuel prices across select outlets, with Bengaluru witnessing one of the steepest increases. Petrol prices have risen by approximately Rs 7.4 per litre, while diesel has seen a much sharper jump of about Rs 25 per litre.
Following the hike, petrol in the city is now retailing at around Rs 119.85 per litre for the standard variant, while diesel prices have climbed above Rs 123 per litre. Premium variants have also recorded notable increases.
The latest revision comes days after Nayara Energy increased petrol and diesel prices at its outlets, signalling a broader trend among private fuel retailers adjusting rates independently of state-run oil marketing companies.
Global Crude Pressures Behind
The primary driver behind the hike is the sustained rise in global crude oil prices, which have crossed the $100 per barrel mark amid geopolitical tensions, particularly in West Asia.
Unlike public sector oil companies, private retailers do not receive government support to cushion losses when retail prices are kept stable. As a result, they are more exposed to international price volatility and are compelled to pass on the burden to consumers.
While retail prices at government-run pumps have largely remained unchanged, the widening gap between global crude costs and domestic fuel rates has increased financial strain across the sector.
Industry estimates suggest that if global pressures persist, diesel prices could rise further in the coming weeks, potentially reaching significantly higher levels. However, there has been no official confirmation of additional hikes so far.
The latest increase adds to broader inflationary concerns, with fuel costs expected to have a cascading impact on transportation and essential commodities.
