Atiya Mujeeb
JAMMU, May 19: Petrol and diesel prices increased again on Tuesday, marking the second hike within less than a week. In Delhi, petrol prices rose to ₹98.64 per litre from ₹97.77, while diesel increased to ₹91.58 per litre from ₹90.67. Similar hikes were reported in Mumbai, Kolkata and Chennai.
The latest increase comes after fuel prices went up by around ₹3 per litre last week. Oil marketing companies had continued selling fuel at old rates for several weeks despite rising international crude oil prices. However, with losses mounting, companies revised the prices again.
Experts said the ongoing tensions in West Asia, especially involving Iran, have disrupted global crude oil supplies, causing instability in international markets. Since India imports a major share of its crude oil requirements, any increase in global prices directly impacts domestic fuel rates.
The weakening of the Indian rupee against the US dollar has also added pressure on import costs. The fuel price hike is expected to increase transportation expenses and may lead to a rise in the prices of essential commodities, affecting common people, traders and transport operators alike.
