The Indian government and oil-marketing companies increased petrol and diesel prices by ₹3 per litre across the country on Friday [1, 2].
The price adjustment comes as the central government seeks to recoup losses driven by surging global crude oil costs and supply pressures linked to the conflict in West Asia [1, 2].
The hike affects all states and union territories, including major hubs such as Delhi, Mumbai, Kolkata, and Chennai [2, 3]. In Delhi, the price of petrol rose to ₹97.77 per litre from ₹94.77 [3]. Diesel in the capital increased to ₹90.67 per litre, up from ₹89.67 [3].
Regional variations have pushed costs even higher in some areas. In Jaipur, the price of petrol crossed ₹107 per litre [1]. Diesel in the same city rose above ₹93 per litre [1].
While some reports indicated that the government had no plans to increase prices following assembly polls, retail data and reporting from Reuters and The Hindu confirm the ₹3 increase was implemented on May 15 [1, 2].
The government has not provided a specific timeline for further adjustments, though the current move reflects the immediate impact of international market volatility on domestic retail rates [1, 2].
“Petrol and diesel prices were increased by ₹3 per litre”
This price hike signals a shift in the Indian government's strategy to manage fuel subsidies during geopolitical instability. By passing the cost of crude oil volatility to consumers, the state reduces the financial burden on oil-marketing companies, though it risks increasing inflationary pressure on transportation and logistics across the domestic economy.
