Private fuel major Shell plc raises petrol, diesel prices amid global oil surge; PSU companies hold steady for now
New Delhi: Amid rising global crude oil prices linked to geopolitical tensions, private fuel retailer Shell plc has increased petrol prices by ₹4.50 over the past 10 days in India, even as state-run oil companies have kept rates unchanged.
The latest revision comes despite assurances from the central government that fuel prices would remain stable, highlighting a divergence between private and public sector pricing strategies.
Prices Revised Multiple Times in 10 Days
Shell last revised its fuel prices on March 14, increasing rates by around ₹2, taking the total hike to ₹4.50 within 10 days.
While private players like Shell have adjusted prices in response to global trends, public sector oil marketing companies such as Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum have not announced any price hikes so far.
Global Impact: Prices Surge Amid Iran Conflict
Fuel prices have been rising globally due to escalating tensions involving Iran, impacting crude oil supply and pushing costs higher.
Shell has reportedly increased petrol prices not just in India but across global markets, with prices in Singapore reaching near historic highs, comparable to levels seen during the Russia-Ukraine War.
Shell Fuel Prices in Bengaluru (March 14)
- Petrol: ₹108.41 per litre
- Diesel: ₹93.49 per litre
- V-Power Petrol: ₹118.41 per litre
- V-Power Diesel: ₹104.64 per litre
City-Wise Shell Petrol Prices
- Bengaluru: ₹108.41
- Mysuru: ₹107.95
- Belagavi: ₹108.73
- Mangaluru: ₹108.10
- Mumbai: ₹116.36
- Chennai: ₹106.29
- Ahmedabad: ₹99.98
What It Means for Consumers
The latest hike by Shell signals growing pressure on fuel prices due to international factors, even as government-controlled firms attempt to shield consumers.
Industry experts say that if global crude prices continue to rise, public sector companies may also be forced to revise rates, potentially impacting household budgets and inflation.
