New Delhi, May 19 (V7N) — Fuel prices in India have been increased again, marking the second hike in a week as global energy markets remain under pressure.
According to officials, oil marketing companies revised retail prices on Monday, followed by a government-approved adjustment on Tuesday of around 0.9 rupees per litre for both petrol and diesel.
After the latest revision, petrol is priced at approximately 98.64 rupees per litre, up from 97.77 rupees, while diesel has risen to 91.58 rupees per litre from 90.67 rupees.
Analysts say the increase reflects rising international crude oil prices, partly driven by disruptions in global supply routes, including tensions affecting maritime transit through strategic chokepoints such as the Strait of Hormuz.
India, the world’s third-largest importer and consumer of crude oil, has faced mounting pressure on its energy import bill. The recent fuel price adjustments follow an earlier hike of about 3 rupees per litre last week—the first major revision in nearly four years.
Officials also pointed to the end of temporary waivers related to sanctions on Russian oil imports as another contributing factor, which has further tightened supply options in the global market.
Economists warn that repeated fuel price increases could have a cascading effect on transportation costs and inflation across the Indian economy.
END/SMA/AJ
