Fuel Price Hike Hits Vehicle Owners Again as Petrol and Diesel Rates Increase Nationwide
Fresh fuel price hike across India has raised concerns among vehicle owners and households, with petrol and diesel becoming costlier from today amid rising global crude oil prices.
Vehicle owners across the country have been hit with another increase in fuel prices as petrol and diesel rates were revised upward once again. The latest revision has pushed petrol prices up by Rs. 0.87 per litre, while diesel prices have increased by Rs. 0.91 per litre. The new prices have come into effect immediately.
This is the third fuel price hike announced in recent months, adding more pressure on daily commuters and transport operators. Earlier, petrol prices were increased by Rs. 3 per litre, followed by another hike of around 90 paise on both petrol and diesel. The latest increase has now intensified concerns among the public over rising living costs.
According to the government, the decision was taken due to mounting losses faced by public sector oil marketing companies such as Indian Oil Corporation, HPCL, and BPCL. Officials stated that fuel prices had remained relatively stable over the past four years despite fluctuations in the international market, resulting in heavy financial losses for these companies.
The government also pointed to the ongoing tensions in the Middle East, which have sharply impacted global crude oil prices. Since India imports nearly 85 percent of its crude oil requirement from foreign countries, domestic fuel prices are directly influenced by changes in the international oil market.
Experts believe the latest increase may not only affect motorists but could also lead to higher prices for essential goods. Diesel is widely used in transportation and logistics, and an increase in diesel rates usually raises the cost of moving vegetables, milk, groceries, and other daily necessities. Economists warn that this could further increase inflation in the coming weeks.
The revised fuel prices in major cities are as follows:
In Hyderabad, petrol is priced at Rs. 112.71 per litre and diesel at Rs. 100.86 per litre.
In Vijayawada, petrol costs Rs. 113.95 while diesel stands at Rs. 101.11 per litre.
In Delhi, petrol is now Rs. 99.51 and diesel Rs. 92.49 per litre.
In Mumbai, petrol has reached Rs. 108.46 while diesel is priced at Rs. 94.99 per litre.
In Bengaluru, petrol costs Rs. 108.02 and diesel Rs. 95.95 per litre.
In Kolkata, petrol is being sold at Rs. 110.57 and diesel at Rs. 96.98 per litre.
In Chennai, petrol is priced at Rs. 105.38 while diesel costs Rs. 97.02 per litre.
