Petrol and diesel prices were increased once again on Monday, marking the fourth fuel price hike within the last 10 days amid rising global tensions linked to the ongoing Iran conflict.
With the latest revision, petrol prices in New Delhi crossed the Rs 100 per litre mark, adding further pressure on consumers already dealing with rising living costs.
Fuel prices rise sharply again
According to the latest revision, petrol prices were increased by Rs 2.61 per litre, while diesel prices saw a steeper hike of Rs 2.71 per litre.
The repeated increase in fuel rates comes amid volatility in global crude oil markets following geopolitical tensions in the Middle East.
Iran conflict impacts global oil market
Analysts say concerns over crude oil supply disruptions due to the Iran-related conflict have pushed international oil prices higher in recent days. The increase is now being reflected in domestic fuel prices across India.
The latest hike has sparked concerns over possible increases in transportation costs, food prices, and overall inflation.
Public concern over rising expenses
Citizens across several cities expressed concern over the continuous rise in petrol and diesel prices within a short period. Many commuters and transport operators fear the hikes could significantly impact daily expenses and logistics costs.
Experts believe fuel prices may continue to remain volatile depending on developments in the global oil market and geopolitical situation.