Petrol, diesel prices up by ₹3/litre: Check fuel rates in Delhi, Mumbai, Bengaluru, Kolkata on 16 May
After almost four years, the Indian oil marketing companies (OMCs) on Friday declared a price hike of ₹3 per litre in diesel and petrol costs, as the West conflict plunged petroleum costs to over $100 per barrel.
Global crude oil prices have surged more than 50 per cent since US-Israeli strikes on Iran on February 28 and Tehran’s subsequent retaliation that disrupted energy flows through the Strait of Hormuz.
