Chennai Fuel Prices Remain Unchanged Amid Global Crude Oil Price Surge

Chennai's petrol and diesel prices remained unchanged on August 16. The cost of one litre of petrol is Rs 107.77, while diesel costs Rs 99.55 per litre.

The current prices are a result of the cumulative hikes since May 15, which took fuel prices by nearly Rs 7.5 per litre higher. Global crude oil prices surged more than 50% following US-Israeli strikes on Iran and disruptions to shipping through the Strait of Hormuz.

State-run retailers delayed passing on higher input costs for weeks, a move aimed at shielding consumers from inflation. However, opposition parties accused the administration of holding back price increases until after key state elections.