New Delhi: Fuel prices were again hiked for the fourth time in a span of two weeks on Monday across the country.
State-owned oil marketing companies on Monday increased petrol prices in Delhi by Rs 2.61 per litre and diesel prices by Rs 2.71 per litre. With the latest revision, petrol is now being sold at Rs 102.12 per litre, up from Rs 99.51 per litre, while diesel prices have climbed to Rs 95.20 per litre from Rs 92.49 per litre.
The fresh hike comes just two days after fuel prices were revised upward on Saturday, with petrol increasing by Rs 0.87 per litre and diesel by Rs 0.91 per litre.
The consecutive increases in fuel rates come amid sustained pressure from rising global crude oil prices and ongoing geopolitical tensions in West Asia, which continue to affect international energy markets and domestic fuel costs.
The back-to-back hikes are expected to have a cascading effect on transportation costs and household expenses, especially in urban centres heavily dependent on road transport.
The repeated increases have added to concerns among daily commuters, transport operators and businesses, who are already dealing with rising operational costs.
Earlier, the Ministry of Petroleum and Natural Gas reassured the public that India has adequate petrol and diesel supplies.
In its statement, the ministry said that fuel availability across the country remains stable and urged citizens to avoid panic buying or unnecessary crowding at fuel stations.
It added that any temporary pressure at select retail outlets is being addressed through continuous monitoring and coordinated distribution efforts by oil marketing companies.
The ministry further emphasised that responsible consumption and public cooperation are essential to ensure smooth fuel availability during the ongoing period of high demand and global uncertainty.
Earlier, on May 16, fuel prices had witnessed a sharper upward revision, with petrol and diesel rates rising by around Rs 3 per litre in several cities following adjustments by state-run oil companies.
Experts have warned that continued increases in fuel prices may have a cascading effect on the economy, potentially raising transportation and logistics costs, which could further lead to inflationary pressure on essential goods and services.
Government officials, however, maintain that the revisions are necessary to offset rising import costs and ensure stability in fuel supplies amid volatile global crude oil markets and ongoing geopolitical tensions.
(IANS)
