Petrol and diesel prices in India have been raised once more, marking the fourth increase since mid-May. Petrol has gone up by ₹2.61 per litre while diesel has risen by ₹2.71 per litre. With this, the total hike in less than two weeks has reached nearly ₹7.5 per litre.
The rise comes as global crude oil prices have climbed to around $110–115 per barrel. The ongoing conflict in Iran and disruptions in the Strait of Hormuz have reduced oil supplies, while the weakening rupee has added to import costs.
In Delhi, petrol now costs ₹102.12 per litre compared to ₹99.51 earlier, and diesel is priced at ₹95.20 per litre against ₹92.49 previously. Oil marketing companies had been facing heavy losses due to frozen fuel prices, with estimates of nearly ₹1,000 crore lost daily before the hikes.
India imports about 85 percent of its crude oil, making the country highly vulnerable to global price swings. Rising fuel costs are expected to put pressure on household budgets and inflation.
Experts note that crude oil prices remain volatile, moving sharply with developments in peace talks or renewed conflict. Industry leaders also highlight that public sector oil firms continue to struggle despite the recent adjustments.