Fuel prices have once again been increased across India, marking the fourth hike in less than two weeks and adding fresh pressure on household budgets and transport costs. Petrol prices have been raised by ₹2.61 per litre, while diesel has increased by ₹2.71 per litre in the latest revision by oil marketing companies.
With this increase, cumulative fuel price hikes have now reached nearly ₹7.5 per litre since May 15, when price revisions resumed after a long freeze period. The repeated upward adjustments signal sustained pressure from global energy markets.
In Delhi, petrol now stands at ₹102.12 per litre, while diesel is priced at ₹95.20 per litre. Similar increases have been reported in Mumbai, Kolkata, and Chennai, where fuel prices have also seen significant upward revisions.
Reasons Behind the Price Surge
Experts attribute the surge to persistently high global crude oil prices and a weakening Indian rupee against the US dollar, both of which have increased import costs for oil marketing companies. This combination continues to directly impact domestic fuel pricing.
Impact on Economy
The latest hike is expected to have a ripple effect across transportation, logistics, and essential commodity prices, potentially adding to inflationary pressures in the coming weeks. Consumers are likely to face higher costs for goods and services as businesses pass on increased fuel expenses.
Oil marketing companies have not indicated any pause in the revision cycle, and further hikes cannot be ruled out if global crude prices remain elevated. The government has not yet intervened to reduce excise duties or provide relief to consumers.
