Kolkata fuel price today: Petrol and diesel prices in West Bengal were revised in Kolkata on Friday after state-owned oil marketing companies announced a nationwide increase in fuel prices.
The new increase comes amid rising global crude oil prices resulting from the ongoing conflict in West Asia and disruptions in oil supply routes, especially the blockade of the Strait of Hormuz.
Petrol and diesel prices in Kolkata today
After the latest revision, petrol in Kolkata has now become more expensive $108.74 per litre, while the price of diesel is 108.74 per litre $95.13 per litre.
Oil companies said they absorbed most of the increase in input costs over the past few weeks before deciding to shift part of the burden to consumers. Officials noted that India was among the few major economies that maintained relatively stable retail fuel prices despite fluctuations in global energy markets.
Check new fuel prices in Delhi, Mumbai and other cities with petrol and diesel prices rising
Fuel prices in India vary from state to state due to differences in local taxes, VAT rates and transport duties. As a result, Kolkata continues to record the highest petrol prices among major metro cities.
The latest increase also marks the end of a four-year freeze on regular fuel price reviews by state-owned oil companies. While petrol and diesel prices have remained largely unchanged since April 2022, there has been a one-time decline $2 per liter in March 2024 before the Lok Sabha elections.
Follow live updates here
Earlier this week, Union Petroleum Minister Hardeep Singh Puri hinted that fuel prices may see a rise as oil companies face increasing financial pressure due to rising crude oil prices. “At some point, the government has to take a view on raising prices of petroleum products like petrol and diesel,” he said at an event held by the Confederation of Indian Industries in the national capital on Tuesday.
Prime Minister Narendra Modi also recently urged citizens to reduce fuel consumption, exercise restraint and work from home wherever possible amid concerns over rising energy costs.
