Petrol in Shillong now costs Rs 98.86, diesel price goes up to Rs 90.67
NEW DELHI, May 15: Petrol and diesel prices were raised by Rs 3 per litre on Friday for the first time in more than four years, as surging global crude prices following the Iran war forced state-run fuel retailers to pass on part of their mounting losses after months of holding rates steady through key state elections.
The increase pushed petrol prices in New Delhi to Rs 97.77 per litre from Rs 94.77, while diesel rose to Rs 90.67 from Rs 87.67, according to industry sources.
Following the hike, price of petrol in Shillong has increased by Rs 2.56 per litre, rising from Rs 96.30 to Rs 98.86 per litre. Diesel prices have also gone up by Rs 2.62 per litre, climbing from Rs 87.50 to Rs 90.12 per litre.
Rates vary across states due to differences in value-added tax.
Compressed natural gas (CNG) prices were also raised by Rs 2 per kg in cities including Delhi and Mumbai.
CNG in Delhi now costs Rs 79.09 per kg, and in Mumbai it costs Rs 84. However, prices of both natural gas piped into household kitchens for cooking, called piped natural gas, as well as domestic cooking gas LPG, remained unchanged.
Global crude prices have surged more than 50 per cent since US-Israeli strikes on Iran on February 28 and Tehran’s retaliation disrupted flows through the Strait of Hormuz, a key artery for global oil shipments.
Despite the surge, retail fuel rates were kept frozen at two-year-old rates as part of what the government said was an effort to shield price-sensitive consumers from higher global energy costs.
But the opposition parties saw political motives behind the move as key states went to polls.
The increase in fuel prices followed the completion of elections and the ruling BJP expanding its influence after winning three of five states, including West Bengal.
After the increase, petrol and diesel prices are now the highest since May 2022. (PTI)
State BJP defends hike
The Meghalaya BJP has defended the move of the central government to hike the prices of petrol and diesel in the country.
BJP spokesperson Mariahom Kharkrang on Friday said that the Union government has been trying to prevent any hike in prices of petrol and diesel in the country but the oil companies are facing losses to the tune of crores of rupees every day.
Stating that the people should heed the austerity measures announced by Prime Minister Narendra Modi to ensure that foreign exchange does not go out of the country, he said that the situation in the Middle East is beyond the control of the central government.
He also defended the PM’s call for work from home for whichever sector is possible.
UDP backs govt’s austerity measures
The UDP, an ally in the NPP-led MDA Government, on Friday backed the state government’s austerity measures introduced in view of the emerging fuel crisis linked to the ongoing disturbance in West Asia.
Speaking on the issue, UDP said the situation had been anticipated for several months and felt the measures could have been introduced earlier.
The party stated that the disturbance in West Asia began towards the end of February and concerns over its impact on fuel supplies and prices had been growing since then. While describing the response as delayed, the UDP maintained that it was still a necessary step.
The party said it is now up to the state government to implement the measures effectively and manage the situation in the best possible manner.
The UDP also appealed to the public to cooperate by reducing fuel consumption wherever possible, including through carpooling and increased use of public transport.
