Petrol and Diesel Prices Rise for the Fourth Time in 10 Days; Petrol Up by ₹2.61, Diesel by ₹2.71…

New Delhi: Petrol and diesel prices across the country have once again been hiked. On Monday, oil companies raised the price of petrol by ₹2.61 per liter and diesel by ₹2.71 per liter. This marks the fourth time in the last 10 days that fuel prices have been increased. These continuously rising prices have heightened concerns among the general public. In the national capital, Delhi, petrol prices have reached ₹102.12 per liter, while diesel stands at ₹95.20 per liter. In Indore, the price of petrol has risen to ₹113.80 per liter. Prior to this, on Saturday, petrol and diesel prices had also seen an increase ranging from 87 to 91 paise.

Why Are Petrol and Diesel Prices Rising Continuously?
According to experts, oil companies are facing increased pressure due to surging crude oil prices in the international market, a weakening rupee, and rising import costs. Additionally, fluctuations in refining margins are also impacting fuel prices. After keeping prices stable for an extended period, state-run oil companies are now gradually passing the burden of these increased costs onto consumers. This is the reason why, within just 10 days, the prices of petrol and diesel have gone up by approximately ₹5 per liter.

According to the new rates, the price of petrol in Delhi has risen to ₹102.12 per liter, marking an increase of ₹2.61. In Kolkata, petrol prices reached ₹113.51 per liter, reflecting a hike of ₹2.87. In Mumbai, the price of petrol has gone up to ₹111.21 per liter, while in Chennai, it has reached ₹107.77 per liter. Rising fuel prices have heightened concerns, particularly among the middle class and daily commuters.
How much has the price of diesel increased?
A significant hike has also been recorded in diesel prices. In Delhi, diesel will now retail at ₹95.20 per liter, marking an increase of ₹2.71. In Kolkata, the price of diesel has risen to ₹99.82 per liter. In Mumbai, diesel prices have reached ₹97.83 per liter. The rising cost of diesel has a pronounced impact on the transport and freight sectors. Consequently, apprehensions are being raised regarding a potential rise in the market prices of various commodities.

What will be the extent of the impact on the common people and the market?
It is widely believed that the impact of rising petrol and diesel prices is not limited solely to vehicle owners. As freight costs increase, the prices of fruits, vegetables, milk, and other daily essentials are also likely to rise. The hike in diesel prices could impose an additional burden on the agricultural and transport sectors. Under these circumstances, the likelihood of rising inflation could intensify further in the days to come. The continuous surge in fuel prices has undoubtedly heightened the anxieties of the middle class and those who commute on a daily basis.