Fuel Prices Surge: Diesel and Petrol Rates Hiked Sharply by Shell India

New Delhi: Following Nayara Energy, private sector giant Shell India has announced a significant increase in petrol and diesel prices. The hike comes in response to a sharp rise in international crude oil rates. According to Moneycontrol, Shell has raised diesel prices by ₹25.01 per litre, while petrol rates have increased by ₹7.41 per litre.

As a result, standard diesel at Shell pumps now costs ₹123.52 per litre, while the premium variant is priced at ₹133.52 per litre. Petrol in Bangalore is being sold at ₹119.85 for standard and ₹129.85 for the power variant. Local taxes (VAT) and transportation costs cause minor variations across states and cities, but overall consumers nationwide face higher expenses at Shell outlets.

Public Sector Companies Hold Rates
Unlike private companies, public sector oil companies such as IOCL, BPCL, and HPCL have kept retail rates steady despite rising crude costs, thanks to government intervention. Private players do not receive any financial compensation or subsidy from the government, leaving them no choice but to pass on the cost to consumers.

Crude Oil Price Spike
The unprecedented increase in fuel prices is largely due to soaring crude oil rates. Following attacks on Iran by the US and Israel at the end of February, crude supply has been severely disrupted. Brent crude has surged by nearly 60%, staying above $100 per barrel in international markets. India imports around 85% of its oil requirements, making domestic fuel prices highly sensitive to global fluctuations.

Consumers are now feeling the impact at the pump, while private oil companies justify the hike as necessary to avoid losses amidst global price shocks.