Petrol, diesel prices rise again as West Asia conflict triggers third fuel hike in 10 days
India witnessed its third fuel price hike in less than 10 days, with petrol prices nearing Rs 100 in Delhi amid continuing turmoil in global oil markets.
India witnessed its third fuel price hike in less than 10 days, with petrol prices nearing Rs 100 in Delhi amid continuing turmoil in global oil markets.
Fuel prices climbed again across major Indian cities as rising global crude oil rates and the ongoing West Asia conflict continued to pressure domestic markets.
Oil companies raised petrol, diesel and CNG prices as mounting crude oil costs and the West Asia conflict intensified pressure on India’s fuel retailers.
Worldwide, there is an increasing trend to ban vehicles using fossil fuels, but that is not confined to diesel vehicles alone.
As a result, under the daily price adjustment procedure used by oil marketing corporations, gasoline and diesel prices remained unchanged for the 11th consecutive day.
OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products' prices and dollar exchange rate.
OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products' prices and dollar exchange rate.
With global crude prices at around $ 66 a barrel mark, OMCs may have to revise fuel prices upwards again if there is any further firming up.
Across the country as well the petrol and diesel price remained unchanged on Friday but its retail levels varied depending on the level of local levies on respective states.
Earlier, petrol and diesel prices increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.
