Petrol and Diesel Prices Hiked by Rs 3 Across India
Fuel prices across India increased sharply from Friday morning as oil companies raised petrol and diesel rates following a surge in global crude oil prices and supply concerns.
- Petrol and diesel prices increased across India
- Fuel rates rise after global crude oil surge
- New petrol and diesel prices effective from Friday
Vehicle owners across the country woke up to a major fuel price hike as oil marketing companies increased petrol and diesel rates by nearly three rupees per litre from Friday morning.
The revised fuel prices came into effect from 6 am, creating concern among commuters, transport operators, and businesses already dealing with rising living costs.
In the national capital Delhi, petrol prices climbed from Rs 94.77 to Rs 97.77 per litre, while diesel rates increased from Rs 87.67 to Rs 90.67 per litre. Similar price hikes were reported in several metropolitan cities across India.
Petrol prices in Kolkata touched Rs 108.74 per litre, while Mumbai recorded Rs 106.68 and Chennai crossed Rs 103.67. Diesel prices also rose significantly, reaching Rs 95.13 in Kolkata, Rs 93.14 in Mumbai, and Rs 95.25 in Chennai.
Officials stated that the increase varies between Rs 2.83 and Rs 3.29 depending on the city and local taxation structure. This is considered one of the sharpest fuel price revisions seen in nearly four years.
Industry experts linked the price rise to the continued instability in West Asia and the sharp increase in international crude oil prices. Brent crude reportedly crossed the 105 dollar mark per barrel, forcing oil companies to pass some of the burden onto consumers.
Concerns over fuel transportation through the Strait of Hormuz have also added pressure on global energy markets. External Affairs Minister S Jaishankar recently expressed concern over disruptions affecting international fuel supply routes and their impact on energy security.
As speculation about a fuel price hike had been circulating for several days, long queues were witnessed outside petrol stations in many cities before the revised rates came into effect. Several motorists rushed to fill their fuel tanks before the midnight deadline.
Economic analysts warned that the increase in petrol and diesel prices could soon affect transportation costs and push up prices of essential goods across markets.
Experts also noted that rising fuel costs often have a direct impact on household budgets, public transport expenses, and overall inflation, especially during periods of global economic uncertainty.
