Hyderabad: Petrol and diesel prices were increased once again across India on Saturday, marking the third hike in retail fuel prices within just 10 days amid rising global crude oil prices and continuing geopolitical tensions in West Asia.
State owned oil marketing companies increased petrol prices by Rs 0.87 per litre and diesel prices by Rs 0.91 per litre across the country.
The latest revision comes as international crude oil markets continue to remain volatile due to geopolitical instability and supply concerns affecting global energy trade.
Fuel prices rise in major cities
In New Delhi, petrol prices increased from Rs 98.64 to Rs 99.51 per litre, while diesel prices rose from Rs 91.58 to Rs 92.49 per litre.
In Mumbai, petrol climbed to Rs 108.49 per litre and diesel reached Rs 95.02 per litre after the latest revision.
In Kolkata, petrol is now being sold at Rs 110.64 per litre, while diesel prices touched Rs 97.02 per litre.
The revised rates have triggered concern among commuters, transport operators, traders, and businesses already struggling with rising operational and logistics costs.
Government Assures Adequate Fuel Supply
The latest price increase came a day after the Ministry of Petroleum and Natural Gas assured the public that India has sufficient petrol and diesel stocks.
The ministry stated that fuel availability across the country remains stable and appealed to citizens not to engage in panic buying or unnecessary crowding at petrol pumps.
Officials said any temporary pressure at select retail outlets is being addressed through continuous monitoring and coordinated supply management by oil marketing companies.
The ministry also stressed that responsible fuel consumption and public cooperation are essential to ensure uninterrupted availability during the current phase of global uncertainty and increased demand.
Rising Crude Oil Prices Impact Indian Market
Earlier on May 16, petrol and diesel prices had already witnessed a sharp increase of nearly Rs 3 per litre in several cities following adjustments by state run oil companies.
Experts said the repeated hikes are largely linked to rising global crude oil prices, higher import costs, and geopolitical tensions affecting international supply chains.
Economic analysts warned that continued increases in fuel prices may lead to higher transportation and logistics costs, which could further contribute to inflation in essential goods and services.
The rising fuel prices are also expected to affect daily commuters, public transport operators, agriculture related activities, and small businesses dependent on fuel driven transportation.
Inflation Concerns Likely To Increase
Market experts believe sustained increases in petrol and diesel prices could create additional pressure on household budgets and industrial operations across the country.
However, government officials maintained that periodic price revisions are necessary to maintain fuel supply stability and manage increasing import expenditure amid volatile global oil markets.
Authorities said fuel supply systems are being closely monitored nationwide to prevent disruptions and maintain smooth distribution across retail outlets.
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