The ongoing tensions in West Asia have pushed crude oil prices higher, impacting India’s fuel markets
Petrol and diesel prices were increased by Rs 3 per litre across the country on Friday as rising global crude oil prices and supply concerns linked to the West Asia crisis continued to put pressure on India’s energy markets.
Oil marketing companies revised fuel rates upward after months of relative stability, partially passing on the burden of higher international crude prices to consumers.
Following the latest hike, petrol in Delhi is now priced at Rs 97.77 per litre, while diesel has climbed to Rs 90.67 per litre.
Fuel prices have also surged sharply across other metro cities. Petrol rates have crossed Rs 108 per litre in Kolkata, while diesel prices in several cities are now above Rs 95 per litre.
The increase comes amid mounting global uncertainty triggered by escalating tensions in West Asia, a region critical to global oil supplies. Disruptions in energy trade routes and fears over supply shortages have pushed international crude prices higher in recent weeks.
Even before the official announcement, reports of a likely fuel price hike had triggered panic buying in several states, with long queues seen outside petrol pumps.
India, which imports a major share of its crude oil requirements, remains highly vulnerable to fluctuations in global oil prices. Rising shipping costs, refining expenses and instability around key oil transit routes, especially near the Persian Gulf, have added further pressure on the domestic fuel market.
Industry experts say oil marketing companies were facing growing financial strain as they continued absorbing a large portion of the increased import costs despite soaring global crude prices.
The latest revision is expected to impact transportation costs and could further add to inflationary pressure in the coming weeks if global crude prices remain elevated.
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