New Delhi, June 2: The ongoing conflict between the United States and Iran is significantly affecting the Indian populace. Over the past month, petrol prices have increased by ₹7.35 per liter, while diesel prices have risen by ₹7.53 per liter.
During this period, the central government raised fuel prices four times on May 15, 19, 23, and 25. In New Delhi, the price of petrol has jumped from ₹94.77 per liter to ₹102.12 per liter.
The price hikes included an increase of ₹3 per liter on May 15, ₹0.87 on May 19, another ₹0.87 on May 23, and ₹2.61 on May 25.
Similarly, diesel prices also saw four increments last month, pushing the cost from ₹87.67 per liter to ₹95.20 per liter. The increases were ₹3 on May 15, ₹0.91 on May 19, another ₹0.91 on May 23, and ₹2.71 on May 25.
Additionally, the price of commercial LPG cylinders has also risen. Due to the war, the cost of a 19-kilogram commercial LPG cylinder in New Delhi has reached ₹3,113.50. On June 1, there was an increase of ₹42 in the price of commercial LPG.
Over the past five months, the price of commercial LPG cylinders has surged by over ₹1,400. In January, the cost of a 19-kilogram commercial LPG cylinder was ₹1,691.50.
Despite these increases, petrol and diesel prices in India remain lower compared to many other countries. In major developed economies, petrol retail prices exceed ₹150 per liter, with many nations seeing prices above ₹180 per liter. In the 27 countries of the European Union, the average petrol price is ₹179, while diesel costs ₹184.
India’s two major neighbors, Pakistan and Nepal, have petrol prices exceeding ₹135 per liter, despite lower income levels. In Sri Lanka, Myanmar, and the Philippines, petrol prices also exceed ₹130 per liter.
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