Petrol and Diesel Prices Soar: Impact Across India
Fuel prices across major Indian cities like Delhi, Mumbai, Noida, Gurugram, and Patna are on the rise. Analysis suggests global crude oil shortages and supply concerns are driving these hikes, affecting daily commuting and transportation costs.
Highlights
- •Rising fuel prices in India
- •Petrol and diesel rates across major cities
- •Global crude oil shortage
- •Impact on daily consumer budgets
Amidst rising fuel prices that continue to hit consumers across India, petrol and diesel rates have reached a new peak. The past 12 days saw three consecutive hikes, signaling an ongoing upward trend in fuel costs. This comes as no surprise given the escalating global crude oil prices due to concerns over supply shortages.
Price Trends in Major Indian Cities
In New Delhi, petrol now stands at around 102 INR per liter, while diesel has soared to approximately 94 INR per liter. Mumbai, the financial capital of India, is also witnessing high rates with petrol touching nearly 111.21 INR per liter and diesel at around 97.83 INR per liter.
Further analysis reveals that Noida in Delhi-NCR region has seen petrol prices rise to between 99-100 INR per liter, with diesel following closely at nearly 88 INR per liter. In Gurugram, another major city, fuel costs have also been on the upswing.
Bihar's capital Patna now finds petrol prices around 110 INR per liter, while diesel clocks in at approximately 96 INR per liter. Analysts attribute these jumps to global oil supply concerns and fears over crude shortages, driving international markets into a state of alert.
Since the last 12 days, petrol and diesel prices have increased by nearly 7-8 INR per liter, indicating a significant shift in consumer budgets.
