Hyderabad: Fuel prices were increased once again across India on Monday, marking the fourth hike in petrol and diesel rates within two weeks amid rising global crude oil prices and geopolitical tensions in West Asia.
State-owned oil marketing companies increased petrol prices in Delhi by Rs 2.61 per litre and diesel prices by Rs 2.71 per litre.
With the latest revision, petrol in the national capital is now priced at Rs 102.12 per litre, up from Rs 99.51, while diesel rates increased from Rs 92.49 to Rs 95.20 per litre.
The latest hike came just two days after another increase on Saturday, when petrol prices were raised by Rs 0.87 and diesel by Rs 0.91 per litre.
Global Crude Prices Push Domestic Fuel Rates Higher
Officials said the repeated hikes were mainly driven by rising international crude oil prices and continuing geopolitical tensions in West Asia, which are affecting global energy markets.
Earlier on May 16, fuel prices had already witnessed a major increase of around Rs 3 per litre in several cities following revisions by oil marketing companies.
The continuous increase in fuel prices is expected to impact transportation, logistics and household expenses across the country.
Transport operators and businesses have expressed concern over rising operational costs due to repeated fuel price revisions.
Government Assures Adequate Fuel Supply
The Ministry of Petroleum and Natural Gas recently assured citizens that there is no shortage of petrol or diesel supplies in India.
In an official statement, the ministry said fuel availability across the country remains stable and urged the public to avoid panic buying.
The government stated that temporary pressure at a few fuel stations was being managed through coordinated supply and continuous monitoring by oil marketing companies.
Officials also appealed for responsible fuel consumption during the ongoing period of global uncertainty and high demand.
Experts Warn Of Inflationary Impact
Economic experts warned that continued increases in petrol and diesel prices could create inflationary pressure on essential goods and services.
They noted that higher transportation and logistics costs may eventually affect commodity prices and daily household expenses.
However, government officials maintained that fuel price revisions were necessary to offset rising import costs and ensure uninterrupted fuel supplies during volatile international market conditions.
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