Fuel Rate Hikes Continue: Petrol, Diesel Cost Up ₹7.5

The impact of the escalating West Asia crisis is now being strongly felt across India, with fuel and natural gas prices witnessing a sharp rise. After maintaining a cautious “wait-and-watch” approach during the recent Assembly elections in multiple states, oil companies have now begun revising fuel prices aggressively following the completion of the poll process.

In yet another blow to the common man, petrol and diesel prices were increased for the fourth time in less than two weeks across the country. Petrol prices have gone up by ₹2.61 per litre, while diesel saw an even steeper hike of ₹2.71 per litre.

This marks the fourth fuel price revision in just ten days, as oil marketing companies attempt to recover mounting losses caused by surging international crude oil prices. The spike is largely attributed to the ongoing geopolitical tensions in West Asia, especially the conflict involving the United States and Israel, which has disrupted trade movement through the strategically crucial Strait of Hormuz.

Overall, both petrol and diesel prices have risen by more than ₹7 in the last ten days since the first hike was announced after the election results on May 4. Following the latest revision, petrol in New Delhi is now priced at ₹102.12 per litre, while diesel costs ₹95.20 per litre. Fuel prices in several other states are even higher due to additional VAT imposed by respective state governments.

The Telugu states have witnessed a particularly steep increase. In Vijayawada, petrol prices touched ₹117.19 per litre, while Guntur crossed ₹117.59. Hyderabad also recorded a significant surge in fuel prices, adding further pressure on middle-class and lower-income families already struggling with rising living costs.

The repeated hikes have sparked widespread concern among consumers, transport operators, and businesses, as increased fuel prices are expected to have a ripple effect on essential commodities and transportation expenses.

However, there is still some hope for relief. Former US President Donald Trump recently hinted that the ongoing conflict could end soon, raising expectations that global crude oil prices may stabilize in the coming weeks.

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