India has increased fuel prices for the third time in the current month. The decision has affected petrol and diesel rates across major cities, including New Delhi.
Petrol prices have gone up by 87 paise per litre. The new price in New Delhi is 99.51 rupees per litre. Diesel prices have increased by 91 paise per litre. The new rate stands at 92.49 rupees per litre.
State-owned oil marketing companies announced the revised prices on Saturday. This marks the third fuel price hike within the same month.
Officials say the increase is linked to rising global oil prices. The rise in international crude rates has followed recent tensions related to the Iran conflict.
Authorities stated that the adjustments are necessary to manage financial losses in the fuel supply system.
India relies heavily on imported crude oil. A large portion of its energy demand is met through foreign supplies.
The increase in global oil prices has raised India’s import bill. It has also added pressure on the national budget and energy subsidy planning.
Economists say repeated price hikes may increase inflationary pressure in the coming months. Transport and goods delivery costs may also be affected.
Consumers in major cities are already feeling the impact of rising fuel costs. Further adjustments in prices may depend on global market trends.
Earlier, The federal government has announced an increase in the prices of several petroleum products, including kerosene oil, light diesel oil and jet fuel used in aircraft operations, according to an official notification issued on Friday.
Under the revised pricing structure, the price of kerosene oil has been raised by Rs1.71 per litre. Following the latest adjustment, kerosene will now be available at Rs313.44 per litre compared to the previous rate of Rs311.73 per litre.
The government has also increased the price of light diesel oil by Rs1.62 per litre. With the new revision taking effect, the commodity’s price has moved up from Rs273.92 to Rs275.54 per litre.
Meanwhile, aviation fuel, commonly referred to as jet fuel, has witnessed an increase of Rs2.10 per litre. The new rate has been fixed at Rs332.32 per litre, up from the earlier price of Rs330.22 per litre.
