If approved, this would mark the first increase in petrol and diesel prices in nearly four years. The anticipated hike could raise prices by around Rs 4–5 per litre, affecting countless consumers across India.
The proposed increase stems from a sharp rise in global crude oil prices, largely influenced by ongoing conflicts in West Asia. Oil marketing companies have absorbed significant losses, reporting around Rs 20 per litre on petrol and approximately Rs 100 on diesel due to unchanged retail rates since 2022.
Key facts:
- Petrol and diesel prices may increase by around Rs 4–5 per litre.
- Domestic LPG cylinders could see a hike of about Rs 40–50.
- State-owned fuel retailers are incurring losses of about Rs 20 per litre on petrol and roughly Rs 100 per litre on diesel.
Government sources indicate that the authorities are closely monitoring the evolving situation in West Asia and its impact on global energy markets. “Retail pump prices of Petrol, Diesel and domestic LPG have been kept unchanged,” stated the Ministry of Petroleum and Natural Gas.
Officials expect a decision regarding the price hike within the next 5–7 days. However, no final decision has been announced yet regarding this increase. Inflation concerns loom as consumers brace for potential changes in their daily expenses.
