Fuel prices across India have been increased once again today, marking the third hike within the month, as global crude oil prices remain elevated due to ongoing geopolitical tensions in the Middle East.
According to Oil Marketing Companies (OMCs), petrol prices have been increased by approximately ₹0.87 per litre, while diesel prices have gone up by around ₹0.91 per litre across major cities including Delhi, Mumbai, Kolkata, and Chennai.
With this revision, petrol in the national capital has moved close to the ₹100 mark, while diesel prices are now approaching ₹92 per litre. In several metro cities, petrol prices have already crossed ₹105–₹110 per litre depending on local taxes and VAT structures.
Why Are Fuel Prices Increasing?
Officials and market reports indicate that the latest hike is largely driven by:
- Rising global crude oil prices
- Supply uncertainty due to geopolitical tensions in West Asia
- Higher import costs for India, which depends heavily on imported crude oil
India imports nearly 85% of its crude oil requirements, making domestic fuel prices highly sensitive to international market fluctuations.
Impact on Consumers
The continuous rise in fuel prices is expected to:
- Increase daily transportation costs
- Push up prices of essential goods due to higher logistics expenses
- Add further pressure on inflation and household budgets
Transport operators, farmers, and delivery-based businesses are expected to be the most affected, as diesel costs directly impact logistics and agriculture.
Recent Trend
This marks the third fuel price revision in less than 10 days, following earlier hikes earlier this month that already increased petrol and diesel prices by nearly ₹3 per litre.
Conclusion
With global crude oil markets remaining volatile, fuel prices in India are expected to stay uncertain in the coming weeks. Experts suggest that unless international oil prices stabilize, further revisions in domestic fuel rates cannot be ruled out.
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