New Delhi, May 25: Fuel prices in India have risen once more amidst a global crisis. On Monday, petrol prices increased by ₹2.61 per liter, while diesel prices saw a hike of ₹2.71 per liter.
This marks the fourth increase in fuel prices over the last ten days. The rise in costs places an additional financial burden on the general public, travelers, and the transportation sector. Prior to this increase, petrol was priced at ₹99.51 per liter and diesel at ₹92.49 per liter in the capital. Now, petrol has reached ₹102.12 per liter and diesel ₹95.20 per liter.
The escalating fuel prices are directly impacting the wallets of everyday citizens. There are concerns that this increase will lead to higher fares for taxis, auto-rickshaws, and freight services. Additionally, it could have a broader impact on inflation.
Previously, on May 23, state-owned oil companies raised petrol prices by ₹0.87 per liter and diesel by ₹0.91 per liter. This latest increase is the fourth in ten days, coinciding with rising global crude oil prices. On May 15, oil companies began gradually passing on the burden of increased energy costs to consumers due to ongoing conflicts in the Middle East.
Following the price hike, leaders from the Bharatiya Janata Party (BJP) defended the decision. They compared the rise in oil prices in India to those in other countries, asserting that India is one of the major economies where the burden on citizens is the least.
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P.S.K.
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