Petrol and diesel prices were hiked once again on Monday, marking the fourth increase in less than two weeks as state-owned oil companies continued passing on rising international energy costs to consumers.
With the latest revision, petrol and diesel prices have increased by nearly Rs 7.5 per litre since fuel price revisions resumed on May 15 after a prolonged freeze.
In Delhi, petrol prices were raised by Rs 2.61 per litre, taking the retail price from Rs 99.51 to Rs 102.12 per litre. Diesel prices climbed by Rs 2.71 per litre, rising from Rs 92.49 to Rs 95.20 per litre, according to industry sources.
The fresh hike comes amid elevated global crude oil prices and continued weakness in the Indian rupee, both of which have significantly increased import costs for oil marketing companies.
Fuel prices had already witnessed three successive hikes since May 15 as oil firms adopted a calibrated approach to pass on the impact of global energy market volatility arising from the ongoing West Asia crisis.
The latest increase is expected to further impact transportation costs, logistics, inflation and household budgets across the country.
Industry experts say sustained geopolitical tensions and fluctuations in crude oil markets may continue to influence domestic fuel prices in the coming weeks.
