Prices revised on June 1
Petrol and diesel prices were raised in Chennai on June 1, reflecting an uptick in international crude oil rates. Petrol went up by 11 paise to Rs 107.87 per litre, while diesel increased by 10 paise to Rs 99.96 per litre.
Oil firms cite global factors
Public sector oil marketing companies—Indian Oil, Bharat Petroleum and Hindustan Petroleum—sell fuel through dealer networks across the country. The report attributes the current pressure on prices to a shortage in the global crude market and a steady rise in rates following a war that began in March in West Asian countries.
Experts warn of further hikes
Economists quoted in the report said oil companies may continue to raise petrol and diesel prices to offset losses.
Commercial LPG cylinder price rises again
Oil companies also revise LPG cylinder prices periodically based on international crude prices and foreign exchange movements. On June 1, the 19-kg commercial LPG cylinder price rose by Rs 46 to Rs 3,283, while the 14.2-kg domestic cylinder price remained unchanged at Rs 928.50.
Impact on restaurants
The report notes that commercial cylinder supply has been tight for the past two months due to the Iran–US war, affecting restaurants. With commercial LPG prices continuing to climb, there are concerns that food prices at hotels may rise further.
