Petrol and diesel prices have been revised twice in a week due to the West Asia crisis. Earlier, oil companies kept the same rates amid the Iran-US war tensions, but on 15th May, they increased the fuel prices by Rs 3. Now again, the cost of petrol and diesel is raised by 90 paise per litre, which means Rs 91.58 per litre diesel and Rs 98.64 per litre petrol in Delhi.
Fuel Prices In Your City
Petrol rates in Mumbai have gone up to Rs 107.59 per litre, and diesel prices have hiked to Rs 94.08 in Mumbai. While in Kolkata, diesel rates are Rs 96.07, while petrol prices have gone to Rs 109.70. In Chennai, diesel prices have increased to Rs 96.11 per litre and petrol prices are Rs 104.49 currently. Due to the Iran-US conflict, there is global oil disruption, especially affecting India because of its dependency of 80 to 85 percent. Oil companies were selling fuel at the same rates amid the war tensions, but currently, the losses have become unsustainable, and prices of fuel have increased this week.
The increase in diesel and petrol is directly linked to people who depend on public transportation, small traders, and transport and logistics businesses who use their own vehicles for their livelihood.
There will be an increase in taxi and bus fares and transportation costs as the fuel becomes costlier; this might increase prices of vegetables and other essential goods. There is a possibility that if crude oil prices continue to increase in the global market, fuel prices will be more costly in the upcoming days, leading to higher inflation, according to the experts.
|