Prices of petroleum products rose for the third time in two weeks in India on Saturday with petrol up Rs0.87 per litre, diesel up Rs0.91 per litre and CNG by Rs1 kilogram amid rising concerns over inflation and higher crude oil prices linked to the Iran war, reported Indian media.
Petrol price has gone up by Rs0.87 per litre, while diesel price has increased by Rs0.91 per litre.
Following the latest revision, petrol now costs Rs99.51 per litre and diesel is priced at Rs92.49 per litre.
Prices were first raised by Rs3 per litre on May 15. Another increase of 90 paisa followed on May 19.
With the latest revision, fuel prices have risen by nearly Rs5 per litre in total over the past two weeks in India.
Dealers said petrol in New Delhi will now cost 99.51 rupees per litre after the 0.87 paisa increase.
The latest hike comes at a time when the Indian government is facing pressure from rising global crude oil prices caused by the Iran war.
Officials are also looking to recover some of the losses linked to higher crude import costs.
The repeated increase in petrol and diesel prices has added to concerns over inflationary pressure and rising household expenses.
The latest revision is expected to affect transportation costs and fuel expenses across sectors as consumers continue facing higher prices for essential goods and services.
CNG price also goes up
Compressed Natural Gas (CNG) price in New Delhi has been increased again, marking the third fuel price hike in less than 10 days.
CNG price was raised by Rs1 per kilogram, taking the rate from Rs80.09 per kg to Rs81.09 per kg in the national capital.
The latest increase comes shortly after petrol and diesel prices were also revised upward on Saturday morning.
The increase in CNG price is expected to affect transport operators and daily commuters who depend on gas-powered vehicles in Delhi.