petrol price

India has kept its petrol and diesel prices unchanged for four years now - ever since the Russia-Ukraine conflict. But the rising global oil prices, past the $100 per barrel mark has made the math unsustainable for oil marketing companies.

The government on Friday raised petrol and diesel prices by Rs 3 per litre nationwide. In Delhi, petrol prices increased from Rs 94.77 to Rs 97.77 per litre, while diesel rates moved up from Rs 87.67 to Rs 90.67 per litre.

Fuel prices saw a Rs 3 per litre increase on Friday. This move follows significant losses for state-run oil companies due to soaring global crude oil prices. The conflict in West Asia disrupted key shipping routes, pushing up import costs for India. This price adjustment comes after a period of frozen rates, impacting transportation and other sectors.

Fuel prices have surged across India, with petrol now exceeding Rs 110 per litre in several states and diesel nearing Rs 100 in many regions. This hike, averaging Rs 3 per litre, follows sustained pressure from elevated global crude oil prices, exacerbated by the West Asia crisis.

Fuel prices in Bengaluru have seen a significant increase, with petrol now costing Rs 106.17 per litre and diesel at Rs 94.10 per litre. This hike, attributed to sustained high global crude oil prices and geopolitical tensions, also affects XP95 petrol and CNG. Private outlets like Shell continue to have higher rates.

Petrol Breaches 100 Mark, Diesel Stands At 92.5 In City

In response to rising panic at petrol stations, Ajay Nath Jha, Bokaro's Deputy Commissioner, has directed local officials to keep a close watch on social media to combat the spread of misinformation. Representatives from oil companies have stepped forward, confirming that all 132 fuel outlets in the district are well-stocked, reassuring citizens and promoting a steady supply of petrol.

The Centre has repeatedly asserted that there is no fuel shortage in the country and no plan to introduce rationing of petrol, diesel or LPG despite disruptions in global energy shipments linked to the Iran conflict and the Strait of Hormuz crisis.

Congress workers protested rising fuel and milk prices, with leaders arriving by bullock cart to highlight inflation's impact. Delhi Congress president Devendra Yadav criticized the government's handling of essential commodity costs, stating inflation has doubled since 2014. This demonstration follows a recent Rs 3 per litre hike in petrol and diesel prices across major cities.

In the heart of Ranchi, the streets transformed into a frenzy as residents rushed to fuel stations amidst a significant rise in petrol prices. The rush overwhelmed retail outlets, leading to some selling up to three times their regular amounts.

Industry Flags Cost Pressure; Household Budgets To Tighten Further

GFX Matter (Price comparision)

Fuel prices have increased across India. Petrol and diesel rates have gone up by Rs 3 per litre. Opposition parties are criticising the Modi government. They state that elections are over and price recovery has begun. This hike comes amid global energy price surges. India had previously absorbed these pressures. State-owned oil companies are now adjusting prices.

PM Modi has called on citizens to adopt measures aimed at conserving foreign exchange, as the surge in oil prices triggered by the Iran conflict has intensified pressure on the rupee and strained India’s foreign exchange reserves.

India has successfully navigated the Middle East crisis, ensuring stable fuel supplies and uninterrupted maritime operations. Despite global price surges, consumers are shielded through excise duty cuts and increased domestic production. State-run oil companies are absorbing significant daily losses to maintain current prices, while Indian seafarers in the Gulf remain safe and maritime operations at Indian ports are normal.

Gig workers are staging a temporary nationwide strike, halting app-based services from 12 pm to 5 pm on Saturday. This protest, organized by GIPSWU, targets rising fuel prices and inadequate payment rates, which are significantly impacting drivers' daily earnings. The union aims to highlight the financial strain caused by increased fuel costs and low payouts.

CNG prices have jumped by Rs 2 per kg across India, following recent hikes in petrol and diesel. This surge, attributed to the West Asia conflict impacting global energy supplies, sees Delhi's CNG now at Rs 79.09 per kg. Fuel rates have climbed significantly after a long period of stability, raising concerns about energy security.