Fuel Prices Surge Again: Petrol and Diesel Costs Rise Amid Inflation Concerns
Fuel Price Hike: Petrol Up 87 Paise, Diesel Costlier By 91 Paise In Third Increase Within 10 Days
News 18
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In a concerning trend, petrol prices in New Delhi have risen by ₹0.87 to ₹99.51 per litre, while diesel prices have increased by ₹0.91 to ₹92.49 per litre. This marks the third price hike in just ten days, driven by escalating crude oil costs linked to the Iran war, raising inflation concerns for consumers.
- 01This is the third fuel price hike within a two-week period, with a total increase of nearly ₹5 per litre.
- 02The first price increase occurred on May 15, followed by another on May 19, with the latest revision occurring recently.
- 03The price of petrol in New Delhi has now reached ₹99.51 per litre, while diesel is priced at ₹92.49 per litre.
- 04The hikes are attributed to rising global crude oil prices, exacerbated by the ongoing Iran war.
- 05Officials are under pressure to recover losses from increased crude import costs, impacting transportation and household expenses.
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Fuel prices in India have experienced another hike, with petrol increasing by ₹0.87 to ₹99.51 per litre and diesel rising by ₹0.91 to ₹92.49 per litre in New Delhi. This marks the third increase in fuel prices within a short span of ten days, following a ₹3 per litre hike on May 15 and an additional ₹0.90 increase on May 19. The cumulative rise in fuel prices over the past two weeks has reached nearly ₹5 per litre. The government is facing mounting pressure due to escalating global crude oil prices, largely influenced by the ongoing conflict in Iran. These price hikes are raising concerns about inflation and increasing household expenses, as higher fuel costs are expected to affect transportation and the prices of essential goods and services. Consumers are likely to feel the pinch as these changes ripple through various sectors, further straining budgets already impacted by rising costs.
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The increase in fuel prices is likely to elevate transportation costs, which may lead to higher prices for essential goods and services, impacting household budgets.
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