Prices Rise: On Saturday, petrol and diesel prices were hiked once again across India; petrol prices rose by ₹0.87 per liter, and diesel prices by ₹0.91 per liter. Amidst the persistent pressure of rising global crude oil prices and geopolitical tensions in West Asia, this marks the third hike in retail fuel rates this month.
In Delhi, petrol prices rose by 87 paise per liter, climbing from ₹98.64 to ₹99.51; meanwhile, diesel prices increased by 91 paise, rising from ₹91.58 to ₹92.49 per liter. This hike comes just one day after an assurance issued by the Ministry of Petroleum and Natural Gas, in which the Ministry stated that, despite rumors to the contrary, India possesses an adequate supply of petrol and diesel.
A tweet from the Ministry stated: “India has adequate availability of petrol and diesel, and supplies remain stable across the country. Citizens are advised not to engage in panic buying and to purchase fuel only according to their actual requirements. Temporary pressure being experienced at certain retail outlets is being alleviated through constant monitoring of supplies and coordinated distribution efforts by oil marketing companies.”
It further added that responsible consumption and public cooperation would help ensure the smooth availability of fuel for everyone during this current period of high demand. On May 16, India witnessed a significant hike in fuel prices when state-run oil companies revised rates, increasing petrol and diesel prices by approximately ₹3 per liter in several cities. Subsequently, on May 19, prices were hiked again by 90 paise across all major metropolitan cities. With this latest increase, fuel prices have collectively risen by approximately ₹5 per liter over this entire period.
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