New Delhi (Rajeev Sharma): Consumers across India woke up to another increase in petrol and diesel prices on Tuesday as state-owned fuel retailers announced a fresh revision, marking the second upward adjustment within a week.
The latest increase of nearly 90 paise per litre (Diesel prices increased by 91 paise per litre and petrol by 87 paise per litre) has taken petrol prices in Delhi to ₹98.64 per litre, while diesel now costs ₹91.58, adding further pressure on household budgets and transport costs.
The revision follows Friday’s ₹3-per-litre hike, which ended a long freeze on fuel prices that had remained largely unchanged for almost four years.
Oil industry experts attribute the repeated revisions to continued volatility in global crude markets triggered by supply concerns linked to geopolitical unrest in West Asia.
The disruption of crude movement through the Strait of Hormuz has sharply pushed international oil prices higher, forcing domestic fuel retailers to gradually pass on part of the financial burden to consumers.
Despite recent revisions, officials indicate that public sector oil companies are still selling fuel below cost and continue to face substantial losses.
Petrol and diesel prices now stand at their highest level in nearly four years, with rates differing across states due to local taxes and transportation charges.
In Mumbai, petrol is being sold at ₹107.59 per litre and diesel at ₹94.08. Kolkata has recorded petrol prices of ₹109.70 and diesel at ₹96.07, while Chennai consumers are paying ₹104.49 for petrol and ₹96.11 for diesel.
The hike comes alongside multiple increases in compressed natural gas prices this month, signalling broader pressure across the energy sector.
Market analysts believe the government is attempting a measured correction rather than a steep one-time increase to reduce inflationary shock while allowing oil companies partial relief.
However, economists warn that continued fuel cost escalation could impact transport fares, food prices and supply chain expenses in the coming weeks.
The government has already urged fuel conservation measures, encouraging remote work and reduced unnecessary travel to help lower fuel consumption and ease pressure on imports.
With international crude prices showing little sign of immediate relief, more fuel price adjustments may be likely if supply disruptions continue to intensify.
