Petrol and Diesel Prices Hiked Again for Fourth Time in Two Weeks
Petrol and diesel prices have been increased again across India, marking the fourth fuel price hike in the last two weeks amid global crude oil supply concerns.
Prasanth Subramani
Petrol and diesel prices have been increased once again across the country, marking the fourth fuel price hike in the last two weeks.
The repeated increase in fuel prices comes amid disruptions in global crude oil supply caused by tensions in the Middle East and concerns surrounding the closure of the Strait of Hormuz.
Earlier, Prime Minister Narendra Modi had urged citizens to use petroleum products carefully and avoid unnecessary fuel consumption in view of the ongoing global situation.
Following that appeal, fuel prices were revised upward multiple times, and prices have now been increased once again on Monday.
According to the latest revision, petrol prices have been increased by ₹2.46 per litre, while diesel prices have gone up by ₹2.57 per litre.
The sharp rise has triggered concern and disappointment among vehicle owners and the general public.
With the latest revision, petrol prices have increased by around ₹7.20 per litre over the last 10 days, while diesel prices have risen by approximately ₹7.38 per litre during the same period.
As per the updated rates, petrol is now being sold at ₹107.77 per litre in Chennai, while diesel prices have reached ₹99.55 per litre.
Experts believe continued geopolitical tensions and disruptions in international crude oil supply chains could keep fuel prices volatile in the coming weeks.
