Lagatar24 Desk
Oil companies have raised petrol and diesel prices for the second time in just five days, adding to the growing financial burden on ordinary citizens already struggling with rising inflation across the country.
Latest Hike and Current Prices
In the latest revision, petrol has been increased by 86 paise per litre and diesel by 83 paise per litre. Earlier on May 15, oil companies had already raised prices by around Rs 3 per litre, meaning fuel has become nearly Rs 4 more expensive in just five days. After the latest hike, petrol in Delhi now costs Rs 98.64 per litre and diesel Rs 91.58 per litre. In Ranchi, petrol stands at Rs 100.86 and diesel at Rs 95.76 per litre.
CNG Also Gets Costlier
CNG prices have also been raised, with Delhi-NCR seeing an increase of Re 1 per kg, taking the price to Rs 80.09 per kg. A previous hike of Rs 2 per kg had already been implemented on May 15.
Price Hikes Across All Metro Cities
Delhi saw petrol rise by 87 paise and diesel by 91 paise. In Kolkata, petrol went up by 96 paise and diesel by 94 paise. Mumbai saw increases of 91 paise for petrol and 94 paise for diesel, while Chennai recorded hikes of 82 paise and 86 paise respectively.
Why Prices Are Rising
Experts point to escalating West Asia tensions and the Iran conflict as the key drivers behind rising international crude oil prices, which have remained above 100 dollars per barrel. A weakening rupee, which has touched a record low of 96.23 against the dollar, has made oil imports even costlier for India. Further price increases cannot be ruled out if crude oil prices continue to climb and the rupee weakens further.
Direct Impact on Common People
The continuous fuel price hikes are directly hitting the pockets of daily commuters, auto-rickshaw drivers, and app-based cab drivers. The ripple effect is also expected to push up transport fares and prices of essential goods in the coming days.
