New Delhi: Retail fuel prices across India witnessed another sharp increase on Saturday morning, marking the third upward revision in less than ten days as state-owned oil marketing companies continue to pass on elevated global energy costs. In the latest round of price adjustments, the price of petrol was hiked by 87 paise per litre, while diesel rates saw an increase of 91 paise per litre. The cumulative effect of these rapid adjustments has now driven fuel rates up by nearly five rupees per litre over a short span.
In the national capital of Delhi, the price of a litre of petrol jumped from Rs 98.64 to Rs 99.51, bringing it to the brink of the century mark. Similarly, diesel prices in Delhi climbed from Rs 91.58 to Rs 92.49 per litre, intensifying inflationary pressures on transport and logistics sectors. Consumers are feeling the pinch of this calibrated price pass-through, which began in mid-May following a prolonged period of steady domestic fuel pricing.
This latest adjustment represents the third major rate hike since May 15, when oil companies broke their pricing hiatus to account for international supply disruptions and surging crude costs triggered by the escalating conflict in West Asia. The initial price revision on May 15 saw a steep increase of three rupees per litre, which was subsequently followed by a 90 paise hike on May 19. Industry experts indicate that the sequential, minor increases are part of a strategy by state retailers to absorb market shocks gradually rather than enforcing a singular, massive price shock on the public.
With international energy markets remaining highly volatile due to regional tensions and potential maritime trade bottlenecks, further pressure on domestic fuel prices cannot be ruled out. The continuous rise is expected to impact the wider economy, potentially driving up the operational costs of public transport and essential commodities across various states.
