Overview
- State-run fuel retailers, which raised rates Friday, moved petrol in Delhi to Rs 97.77 a litre and diesel to Rs 90.67 after holding prices mostly steady since 2022.
- CNG prices also rose by Rs 2 per kg in key cities, taking Delhi to Rs 79.09 and Mumbai to Rs 84.
- The increase follows a jump in global crude tied to the West Asia conflict and shipping risks at the Strait of Hormuz, with a weaker rupee making oil imports costlier.
- Petroleum Minister Hardeep Singh Puri said public oil firms were losing about Rs 1,000 crore a day, while the opposition argued the hike will push up inflation and slow growth.
- Analysts described the move as a partial correction that could be followed by more changes if crude stays high, which would raise transport costs and show up in grocery bills and services.