Hike in fuel prices; Petrol prices rise from Rs 94.77 to Rs 97.77 per litre, while diesel prices increase from Rs 87.67 to Rs 90.67 per litre
The oil marketing companies on Friday raised petrol and diesel prices by Rs 3 per litre each across India, passing on part of the recent surge in global energy prices to consumers. As a result, petrol will now retail at Rs 97.77 per litre, while diesel will be priced at Rs 99.67 per litre in Delhi. The revision marks a notable move after weeks of volatile crude markets that have put pressure on domestic fuel pricing.
Following the petrol and diesel price hike, CNG rates have also gone up by Rs 2, as the blockade of the Strait of Hormuz persists due to the ongoing conflict in West Asia involving the US, Israel, and Iran.
State-owned oil firms had held retail fuel prices unchanged for 11 weeks despite a sharp rise in input costs, but on Friday passed through a portion of the increase- about one‑tenth of the hike that would fully reflect the surge in global energy rates since the West Asia conflict.