Fuel prices jump: Petrol and diesel rise by Rs 3 nationwide
Fuel prices jump: Petrol and diesel rise by Rs 3 nationwide
Petrol and diesel prices rise by Rs 3 per litre nationwide, Delhi sees sharp hikes and CNG up by Rs 2 as Hormuz tensions push energy costs higher.
India's fuel prices rose again as the government announced a Rs 3 per litre hike in petrol and diesel across the country. The move ends a stretch of price stability even as global energy costs creep higher, affecting daily budgets for households and businesses.
In Delhi, petrol climbed from Rs 94.77 to Rs 97.77 per litre, while diesel rose from Rs 87.67 to Rs 90.67.
CNG prices were raised by Rs 2 in Delhi and Mumbai, adding to the costs for public transport and city commutes.
The timing comes as energy markets react to tensions around the Hormuz Strait, which has put upward pressure on prices. Officials had kept fuel rates unchanged for 10 weeks despite rising input costs, and the latest hike signals a shift in pricing.
Industry observers say the changes may stabilise refinery margins in the near term, but the higher fuel costs could ripple through transport and logistics. In Mumbai, autorickshaw unions have pressed for a Re 1 increase in the base fare of Rs 26 to offset the higher fuel bill.
Analysts caution that while the move may help oil retailers, it could dampen consumer spending if prices stay elevated. Consumers are watching how soon prices might ease if crude markets stabilise.
