New Delhi, May 19 (V7N) — Fuel prices in India have been increased again, marking the second hike within a week as global crude oil markets continue to face upward pressure.
Oil marketing companies revised retail fuel rates on Tuesday, following an earlier adjustment announced on Monday. The latest increase is approximately 0.9 rupees per litre for both petrol and diesel.
After the revision, petrol prices rose to about 98.64 rupees per litre from 97.77 rupees, while diesel increased to 91.58 rupees from 90.67 rupees.
India, the world’s third-largest importer and consumer of crude oil, has been affected by rising global energy costs. Analysts link the increase to ongoing disruptions in international supply chains, including tensions affecting key maritime routes such as the Strait of Hormuz.
Earlier in the week, a larger hike of around 3 rupees per litre was implemented, marking the first major domestic fuel price revision in four years.
Officials also cited the expiry of temporary waivers related to Russian oil sanctions as another factor tightening global supply conditions, further pushing up crude prices.
Economists warn that repeated fuel price increases may contribute to higher transportation costs and broader inflationary pressure across the economy.
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