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Fuel Prices Surge Again: Petrol Approaches ₹100 in Delhi
Fuel Prices Jump Again: Petrol Nears Rs 100 in Delhi
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Petrol prices in Delhi have risen by 87 paise to ₹99.51 per litre, while diesel prices increased by 91 paise to ₹92.49. This marks the third hike in 10 days, driven by rising global crude oil prices and geopolitical tensions in West Asia, raising concerns about inflation and operational costs for businesses and commuters.
- 01The latest fuel price hike is the third increase in just 10 days, with petrol prices rising by ₹0.87 and diesel by ₹0.91.
- 02In major cities, petrol prices are now ₹110.64 in Kolkata and ₹108.49 in Mumbai, reflecting significant increases.
- 03Transport operators and small businesses are particularly affected, fearing further operational cost hikes due to rising fuel prices.
- 04The Ministry of Petroleum and Natural Gas has assured stable fuel supplies across India, urging against panic buying.
- 05The government defends the price hikes, citing rising import costs and the need to maintain stable fuel supplies amid global market volatility.
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On May 23, 2023, petrol prices in Delhi surged to ₹99.51 per litre, while diesel reached ₹92.49 per litre, following an increase of 87 paise and 91 paise, respectively. This marks the third price hike in just ten days, attributed to escalating global crude oil prices and geopolitical tensions in West Asia. As a result, fuel prices in major Indian cities have also risen sharply, with petrol priced at ₹110.64 in Kolkata and ₹108.49 in Mumbai. The continuous increases have raised concerns among commuters, transport operators, and businesses already grappling with higher operational costs. Industry experts warn that these rising fuel prices could lead to a chain reaction, further driving up prices of essential goods and services. In response, the Ministry of Petroleum and Natural Gas has assured citizens of stable fuel supplies, urging against panic buying. Despite criticism, government officials defend the price revisions, emphasizing the impact of rising import costs and the need to monitor international developments closely.
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The rising fuel prices are likely to increase transportation costs, which could lead to higher prices for essential commodities and services, affecting daily commuters and businesses.
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