If approved, this petrol and diesel price hike would mark the first increase in nearly four years in India. The proposed increase of around Rs 4–5 per litre for petrol and diesel comes amid rising global crude oil prices driven by the West Asia conflict.
Oil marketing companies have faced substantial losses, with state-owned retailers incurring about Rs 20 per litre on petrol and roughly Rs 100 per litre on diesel. Retail rates have largely been frozen since 2022, leading to this critical juncture.
Key statistics:
- Expected increase of Rs 4–5 per litre for petrol and diesel.
- Domestic LPG cylinders may see a hike of Rs 40–50.
- State-owned fuel retailers are losing Rs 20 per litre on petrol.
- Losses on diesel are approximately Rs 100 per litre.
The Ministry of Petroleum and Natural Gas confirmed that retail pump prices have remained unchanged despite fluctuations in global oil markets. Government sources stated, “The government is closely monitoring the evolving situation in West Asia and its impact on global energy markets.”
No final decision regarding the price hike has been announced yet, but the government is expected to make a ruling within the next 5–7 days. This potential adjustment raises inflation concerns among consumers and businesses alike.
