Fuel Prices Rise After Nearly Four Years Amid Global Crude Surge

Petrol and diesel prices were increased by around ₹3 per litre across India from today, marking the first nationwide fuel price hike since 2022. State-run oil companies including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum revised fuel rates amid rising global crude oil prices and growing supply concerns linked to the ongoing West Asia conflict.

The fuel price hike follows months of pressure on oil marketing companies due to increasing international crude costs and disruptions in global supply routes. Fuel prices had remained largely unchanged across the country for nearly four years despite fluctuations in the global oil market. Experts believe the latest increase could affect transportation, commuting and the prices of essential goods due to higher logistics costs. The move also comes shortly after Narendra Modi urged citizens to conserve fuel amid global economic uncertainty and rising energy concerns.