Shell India has increased its retail fuel prices with effect from today, raising rates for both petrol and diesel at its Retail Selling Price (RSP) outlets. This is happening at a time when global oil markets are seeing sharp fluctuations.
As per the revised rates, Power Petrol now costs Rs 129.85 per litre, Normal Petrol is priced at Rs 119.85 per litre. On the diesel side, Normal Diesel is now Rs 123.00 per litre and Premium Diesel has gone up to Rs 133.00 per litre.
The hike is significant. Petrol prices have increased by Rs 15 per litre, High-Speed Diesel (HSD) has seen a steeper jump of Rs 31.52 per litre.
Private fuel retailers begin passing on costs
This price revision follows similar moves by other private retailers. Nayara Energy had already raised prices last week, increasing petrol by Rs 5 per litre and diesel by Rs 3 per litre.
Earlier, on March 27, it had implemented a similar hike. In Maharashtra, Nayara’s petrol now costs Rs 108.82 per litre, while diesel is priced at Rs 93.09 per litre.
Global crude surge driving domestic price pressure
The recent increases are linked to rising global crude oil prices. International oil prices have jumped nearly 50 per cent since February 28, mainly due to escalating geopolitical tensions in the Middle East.
This has put pressure on fuel retailers in India, especially as domestic fuel prices had remained unchanged for several weeks despite rising global costs.
The ongoing conflict in West Asia, now in its second month, has disrupted oil supply sentiment and pushed prices higher. India imports about 88 per cent of its crude oil, making it highly sensitive to global price movements.
At the same time, aviation turbine fuel prices have more than doubled to a record Rs 2.07 lakh per kilolitre. Commercial LPG prices have also increased by Rs 195.50 per 19-kg cylinder, taking the cost to over Rs 2,000. Domestic LPG prices have already risen by Rs 60.