Petrol Diesel Price Hike Again by around 90 paise per litre across major Indian cities. Check new fuel rates, reasons behind the hike, and its impact on daily expenses.
Petrol Diesel Price Hike Again
Petrol Diesel Price Hike Again: Petrol and diesel prices have once again been increased across the country. From Tuesday, fuel prices have gone up by around 90 paise per litre. Notably, this is the second hike in fuel prices within less than a week. Earlier, on May 15, petrol and diesel prices were increased by nearly Rs 3 per litre.
The continuous rise in fuel prices is expected to directly impact household budgets and transportation costs. Experts believe that the increase may also lead to higher prices of essential commodities in the coming days.
New Petrol Prices in Major Cities
| City | New Price (Rs/Litre) | Old Price | Increase |
|---|---|---|---|
| Delhi | 98.64 | 97.77 | 87 paise |
| Mumbai | 107.59 | 106.68 | 91 paise |
| Kolkata | 109.70 | 108.74 | 96 paise |
| Chennai | 104.49 | 103.67 | 82 paise |
New Diesel Prices in Major Cities
| City | New Price (Rs/Litre) | Old Price | Increase |
| Delhi | 91.58 | 90.67 | 91 paise |
| Mumbai | 94.08 | 93.14 | 94 paise |
| Kolkata | 96.07 | 95.13 | 94 paise |
| Chennai | 96.11 | 95.25 | 86 paise |
Prices of Other Goods May Also Rise
The impact of rising petrol and diesel prices will not remain limited to vehicle owners alone. The increase is likely to affect the prices of several daily-use items as well.
Transportation Costs to Increase
Higher fuel prices will increase the operating costs of trucks, tempos, and other transport vehicles. As a result, vegetables, fruits, and grocery items transported from other states may become more expensive.
Farming Expenses to Rise
Farmers will have to spend more on running tractors, irrigation pumps, and other agricultural equipment. This may eventually increase the cost of food grains and agricultural products.
Public Transport May Become Costlier
Bus fares, auto-rickshaw charges, and school transportation fees are also expected to increase, directly affecting students and daily commuters.
Why Have Petrol Diesel Price Hike Again?
The primary reason behind the fuel price hike is the sharp rise in crude oil prices in the international market. According to experts, growing tensions and conflict-like situations between Iran and the United States have raised concerns over global crude oil supply.
A few weeks ago, crude oil prices were around 70 dollars per barrel. However, prices have now crossed 100 dollars per barrel, putting pressure on oil marketing companies.
To recover losses caused by rising crude oil costs, oil companies have decided to increase petrol and diesel prices.
What Happens Next?
Experts believe that if crude oil prices remain high in the global market for a longer period, fuel prices in India may witness further hikes in the coming weeks. This could lead to an additional rise in inflation and increase the financial burden on common people.
Petrol Diesel Price Hike Again: The latest fuel price hike has once again become a major concern for households and businesses across the country.
