Fuel Costs Burning A Hole In Your Pocket? Prices Hiked Again

Fuel prices rose once again across the country on Monday, marking the fourth increase within two weeks as rising global crude oil prices and geopolitical tensions in West Asia continued to pressure domestic markets.

State-run oil marketing companies raised petrol prices in Delhi by Rs 2.61 per litre and diesel prices by Rs 2.71 per litre.

The latest revision pushed petrol prices in the national capital to Rs 102.12 per litre from Rs 99.51, while diesel now costs Rs 95.20 per litre compared to the earlier Rs 92.49.

The latest increase came just two days after another upward revision on Saturday, which raised petrol prices by Rs 0.87 per litre and diesel prices by Rs 0.91 per litre.

The back-to-back hikes will likely impact transportation expenses and household budgets, particularly in urban areas that rely heavily on road transport.

Daily commuters, transport operators and businesses are already facing mounting operational costs due to the repeated fuel price increases.

Earlier, on May 16, fuel prices had witnessed a sharper increase of around Rs 3 per litre in several cities following revisions by state-run oil companies.

Experts have cautioned that continued increases in fuel rates could trigger inflationary pressure on essential goods and services by driving up transportation and logistics costs across sectors.

Amid concerns over supply disruptions, the Ministry of Petroleum and Natural Gas stated that India continues to have adequate petrol and diesel availability nationwide.

The Ministry urged citizens to avoid panic buying and unnecessary crowding at fuel stations. It also said that temporary pressure at select retail outlets is being managed through continuous monitoring and coordinated distribution efforts by oil marketing companies.

Officials maintained that the price revisions are necessary to offset rising import costs and maintain stability in fuel supplies during ongoing global uncertainty.