Shell India has increased diesel prices by nearly Rs 20 per liter in less than a week, while public sector fuel retailers have maintained a freeze on price hikes for the 18th consecutive month.
Global crude oil prices remain near $90 per barrel, forcing Shell India, the local unit of the world's second largest oil and gas company, to increase fuel prices by Rs 4 per liter every day. Due to this surge in prices, Shell had to sell diesel at Rs 130 per liter in Mumbai and Rs 129 per liter in Chennai.
Shell has 346 petrol pumps in India, mainly located in the southern and western regions of the country. Petrol prices at Shell stations have reached Rs 117-118 per liter. In contrast, petrol prices at public fuel retailers in Mumbai are at Rs 106.31 per litre, and in Chennai, they are at Rs 102.63 per litre. Diesel prices at the public sector company's pumps have reached Rs 94.27 per liter in Mumbai and Rs 94.24 per liter in Chennai.
It is noteworthy that Shell does not have any oil refinery to convert crude oil into fuels like petrol and diesel.
In response to these price increases, a Shell India spokesperson said, Shell India confirms the diesel price increase. We understand the concerns of our customers; however, we have taken the decision to increase diesel prices due to volatile market conditions. Our price depends on various factors, such as government taxes and duties, delivery costs and operating expenses. We aim to help our customers by providing high quality fuel to help enhance engine performance and efficiency.
Along with the assistance of the local police, the Delhi Transport Department has sent out up to 120 enforcement teams to put restrictions on the use of BS3 and BS4 diesel four-wheelers on city streets.More