Fuel Prices Rise After Nearly Two Years

Petrol and diesel prices were increased across India from 6 AM on Friday amid rising global crude oil prices and supply concerns triggered by the ongoing conflict in West Asia. The latest hike marks the first increase in fuel prices since 2022, adding fresh burden on consumers already dealing with inflation.

The increase has directly impacted daily commuters, transport operators, and small businesses, especially in Delhi-NCR and other urban regions.

Petrol, Diesel Become Costlier

Following the latest revision, petrol prices have increased by ₹3.14 per litre while diesel prices have gone up by ₹3.11 per litre.

In Delhi, the revised fuel prices are:

• Regular Petrol: Increased from ₹94.77 to ₹97.91 per litre
• Premium Petrol: Increased from around ₹102–104 to ₹105.14–107.14 per litre
• Regular Diesel: Increased from ₹87.67 to ₹90.78 per litre

Officials said the new rates came into effect from Friday morning.

West Asia Conflict Impacts Global Fuel Supply

The fuel price hike comes amid concerns over disruptions in global crude oil supply due to escalating tensions and conflict in West Asia. The international market has witnessed sharp fluctuations in crude oil prices over the past few weeks.

Experts believe the rising crude prices, coupled with weakening of the Indian rupee against the US dollar, forced oil marketing companies to revise retail fuel prices.

Oil Dealers Explain Reasons Behind Hike

Delhi Petrol Dealers Association outgoing president Nischal Singhania said the increase was driven by volatility in international crude oil prices and currency fluctuations.

According to him, oil companies informed petrol pump operators about the revised rates through emails late at night, with the new prices becoming effective from 6 AM on Friday.

Common People Likely to Feel Financial Pressure

The fuel price hike is expected to increase transportation costs and impact the prices of essential commodities in the coming days.

Daily commuters, cab drivers, transport operators and small business owners are likely to face the biggest impact as higher fuel costs will directly affect operational expenses.

Economists warn that if crude oil prices continue to rise globally, consumers may face further fuel price increases in the near future.

Concerns Grow Over Inflation and Transport Costs

The latest fuel price revision has triggered concerns about inflationary pressure across sectors. Higher diesel prices, in particular, may increase logistics and freight costs, potentially leading to price rise in vegetables, food items, and other daily-use goods.

Industry experts are closely monitoring the international crude oil market and geopolitical developments in West Asia for further impact on India’s fuel economy.