NEW DELHI – The Indian government has announced whooping increase in petroleum prices as it has started feeling the impacts of energy crisis amid fluctuations in global oil markets.
After a four-year pause, the government has increased petrol and diesel rates, raising concerns about inflation.
According to media reports, state-run oil refineries in India raised prices due to higher crude costs in the global market, linked to geopolitical tensions involving Iran, as well as increasing financial pressures on the refining sector.
New Petrol Prices in India
Under the latest revision, petrol prices in New Delhi have reached 97.77 Indian rupees per liter, while diesel now stands at 90.67 rupees per liter—the highest levels since May 2022.
Although the increase in domestic prices is just over 3%, global crude prices have surged nearly 50% over the same period.
Experts warn that ongoing tensions in the Middle East and rising international oil costs could further impact South Asian economies, potentially leading to additional inflation and higher fuel costs for consumers and the transport sector.
